Snap-On Incorporated (NYSE:SNA) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,108 shares of the company’s stock after buying an additional 85 shares during the period. Ritholtz Wealth Management’s holdings in Snap-On were worth $373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Ethic Inc. increased its holdings in Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock valued at $3,127,000 after purchasing an additional 1,445 shares in the last quarter. Advyzon Investment Management LLC acquired a new stake in Snap-On in the 4th quarter valued at $272,000. Assetmark Inc. increased its holdings in Snap-On by 4.0% in the 4th quarter. Assetmark Inc. now owns 136,472 shares of the company’s stock valued at $46,330,000 after purchasing an additional 5,187 shares in the last quarter. Amundi increased its holdings in Snap-On by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after purchasing an additional 116,319 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Snap-On by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock valued at $556,022,000 after purchasing an additional 27,700 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

NYSE:SNA opened at $306.76 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The firm has a 50-day moving average of $317.98 and a two-hundred day moving average of $332.63. The stock has a market cap of $16.04 billion, a P/E ratio of 16.06, a PEG ratio of 2.19 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business posted $4.91 EPS. On average, research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.79%. Snap-On’s payout ratio is 44.82%.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,515 shares of company stock valued at $17,094,296. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird lowered their price target on Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Monday, May 19th. Tigress Financial increased their price target on Snap-On from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Longbow Research raised shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.83.

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.