Snap-on Incorporated (NYSE:SNA) Stock Position Raised by AdvisorNet Financial Inc

AdvisorNet Financial Inc raised its position in shares of Snap-on Incorporated (NYSE:SNA) by 1,327.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,156 shares of the company’s stock after purchasing an additional 1,075 shares during the quarter. AdvisorNet Financial Inc’s holdings in Snap-on were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SNA. Nordea Investment Management AB lifted its stake in Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after acquiring an additional 298,727 shares in the last quarter. Earnest Partners LLC boosted its position in Snap-on by 5.8% during the 3rd quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after acquiring an additional 42,701 shares during the period. Dimensional Fund Advisors LP boosted its position in Snap-on by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after acquiring an additional 3,449 shares during the period. Envestnet Asset Management Inc. boosted its position in Snap-on by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock worth $218,203,000 after acquiring an additional 16,972 shares during the period. Finally, LSV Asset Management boosted its position in Snap-on by 0.6% during the 4th quarter. LSV Asset Management now owns 670,806 shares of the company’s stock worth $193,756,000 after acquiring an additional 4,010 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares of the company’s stock, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,336 shares of company stock valued at $10,563,314. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Wednesday, May 22nd. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Finally, Robert W. Baird decreased their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Stock Up 0.2 %

Shares of SNA stock opened at $267.40 on Tuesday. The stock’s 50 day simple moving average is $271.64 and its 200 day simple moving average is $280.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.84 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $4.60 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, research analysts predict that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Friday, May 17th. Snap-on’s payout ratio is 39.03%.

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.