Snap-On Incorporated $SNA Stock Position Raised by Advisors Capital Management LLC

Advisors Capital Management LLC lifted its position in Snap-On Incorporated (NYSE:SNA) by 5.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,241 shares of the company’s stock after acquiring an additional 63 shares during the quarter. Advisors Capital Management LLC’s holdings in Snap-On were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. Janus Henderson Group PLC lifted its position in Snap-On by 2.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,849 shares of the company’s stock worth $1,986,000 after buying an additional 120 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC purchased a new stake in Snap-On in the 4th quarter worth approximately $229,000. Lazard Asset Management LLC lifted its position in Snap-On by 14.4% in the 4th quarter. Lazard Asset Management LLC now owns 507 shares of the company’s stock worth $171,000 after buying an additional 64 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Snap-On by 0.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,665 shares of the company’s stock worth $2,602,000 after buying an additional 57 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Snap-On in the 4th quarter worth approximately $587,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock valued at $8,983,203 over the last ninety days. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

SNA has been the subject of a number of research analyst reports. Tigress Financial increased their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Finally, Robert W. Baird increased their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

Snap-On Stock Performance

NYSE SNA opened at $333.70 on Friday. 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 capitalization of $17.41 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.31 and a beta of 0.77. The company’s fifty day moving average is $324.94 and its two-hundred day moving average is $322.84. Snap-On Incorporated has a 52-week low of $278.75 and a 52-week high of $373.89.

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

Snap-On Dividend Announcement

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

Snap-On 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.