Cresset Asset Management LLC Buys 2,643 Shares of Snap-On Incorporated $SNA

Cresset Asset Management LLC grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 139.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,538 shares of the company’s stock after buying an additional 2,643 shares during the quarter. Cresset Asset Management LLC’s holdings in Snap-On were worth $1,572,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNA. First Trust Advisors LP boosted its holdings in shares of Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares in the last quarter. Norges Bank acquired a new position in Snap-On in the 2nd quarter worth about $168,010,000. Victory Capital Management Inc. raised its position in Snap-On by 346.0% in the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after purchasing an additional 216,813 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Snap-On during the third quarter valued at about $61,134,000. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Snap-On by 21,600.8% during the second quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after purchasing an additional 164,166 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNA shares. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial boosted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Roth Mkm restated a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 price objective on shares of Snap-On in a research note on Friday, February 6th. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer directly owned 846,562 shares in the company, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer directly owned 117,183 shares of the company’s stock, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. 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 ninety days. Insiders own 3.90% of the company’s stock.

Snap-On Stock Down 2.6%

Shares of NYSE:SNA opened at $372.16 on Monday. The business’s 50-day moving average is $370.77 and its 200-day moving average is $350.03. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.57 and a beta of 0.78. 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 results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.82 earnings per share. Equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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