Steward Partners Investment Advisory LLC Buys 303 Shares of Snap-on Incorporated (NYSE:SNA)

Steward Partners Investment Advisory LLC raised its stake in shares of Snap-on Incorporated (NYSE:SNAFree Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,020 shares of the company’s stock after purchasing an additional 303 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Snap-on were worth $584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Snap-on in the fourth quarter valued at about $145,665,000. Nordea Investment Management AB increased its stake in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after acquiring an additional 298,727 shares during the period. Envestnet Asset Management Inc. increased its stake in Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after acquiring an additional 147,997 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Snap-on by 1,416.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after acquiring an additional 137,920 shares during the period. Finally, FMR LLC increased its stake in Snap-on by 229.8% in the third quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after acquiring an additional 107,582 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 62,850 shares of company stock worth $17,323,118 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA stock opened at $269.22 on Thursday. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm’s 50 day moving average is $278.73 and its 200-day moving average is $281.30. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.85 and a beta of 0.99. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNAGet Free Report) last announced its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business earned $4.60 earnings per share. Snap-on’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued 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 2.76%. Snap-on’s dividend payout ratio is currently 39.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Tigress Financial restated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Check Out Our Latest Analysis on SNA

Snap-on Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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