Belpointe Asset Management LLC Increases Stock Holdings in Snap-On Incorporated $SNA

Belpointe Asset Management LLC increased its holdings in Snap-On Incorporated (NYSE:SNA) by 42.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,470 shares of the company’s stock after acquiring an additional 436 shares during the quarter. Belpointe Asset Management LLC’s holdings in Snap-On were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNA. Alpine Bank Wealth Management purchased a new position in Snap-On during the first quarter valued at $25,000. Golden State Wealth Management LLC lifted its position in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares during the period. Cullen Frost Bankers Inc. lifted its position in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the period. Ransom Advisory Ltd purchased a new position in Snap-On during the first quarter valued at $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Snap-On during the first quarter valued at $35,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SNA. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Robert W. Baird raised their price objective on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Tigress Financial raised their price objective on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $357.00.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock valued at $8,983,203 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

SNA opened at $333.70 on Friday. The stock has a 50-day moving average price of $324.94 and a 200-day moving average price of $322.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm has a market cap of $17.41 billion, a PE ratio of 17.80, a P/E/G ratio of 2.31 and a beta of 0.77. Snap-On Incorporated has a 1 year low of $278.75 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $5.07 EPS. Snap-On’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 45.65%.

Snap-On Company Profile

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.