First Trust Advisors LP Has $664.15 Million Stake in Snap-On Incorporated $SNA

First Trust Advisors LP boosted its stake in Snap-On Incorporated (NYSE:SNA) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,916,571 shares of the company’s stock after acquiring an additional 23,863 shares during the quarter. Snap-On accounts for 0.5% of First Trust Advisors LP’s portfolio, making the stock its 27th largest position. First Trust Advisors LP owned approximately 3.69% of Snap-On worth $664,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Snap-On in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after buying an additional 94 shares during the period. Quent Capital LLC bought a new position in shares of Snap-On during the third quarter worth about $36,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Snap-On during the second quarter worth about $37,000. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial lifted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Insider Activity at Snap-On

In other news, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the transaction, the senior vice president owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,429 shares of company stock valued at $17,598,523 in the last 90 days. Insiders own 3.90% of the company’s stock.

Snap-On Trading Down 2.6%

SNA stock opened at $372.16 on Friday. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. The company has a fifty day moving average price of $370.77 and a two-hundred day moving average price of $349.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.82 earnings per share. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $2.44 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On’s dividend payout ratio is 50.86%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.