First Trust Direct Indexing L.P. Purchases 141 Shares of Snap-on Incorporated (NYSE:SNA)

First Trust Direct Indexing L.P. boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 942 shares of the company’s stock after acquiring an additional 141 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Snap-on were worth $272,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Andina Capital Management LLC bought a new stake in Snap-on during the fourth quarter valued at approximately $255,000. Gibraltar Capital Management Inc. bought a new position in Snap-on in the fourth quarter valued at $745,000. Savant Capital LLC purchased a new stake in Snap-on during the fourth quarter valued at about $263,000. Jackson Creek Investment Advisors LLC boosted its holdings in shares of Snap-on by 18.5% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 2,097 shares of the company’s stock worth $606,000 after purchasing an additional 328 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of Snap-on by 1.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,513 shares of the company’s stock valued at $726,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Up 0.8 %

Shares of NYSE SNA opened at $276.86 on Wednesday. The firm has a fifty day simple moving average of $284.38 and a two-hundred day simple moving average of $279.81. Snap-on Incorporated has a 12 month low of $247.68 and a 12 month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $14.60 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business posted $4.60 earnings per share. Snap-on’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.69%. Snap-on’s payout ratio is 39.03%.

Analysts Set New Price Targets

Several analysts have issued reports on SNA shares. Robert W. Baird cut their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Finally, Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.