Mount Yale Investment Advisors LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

Mount Yale Investment Advisors LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,920 shares of the company’s stock after acquiring an additional 39 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Snap-on were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Renasant Bank lifted its position in Snap-on by 2.3% during the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after purchasing an additional 36 shares during the last quarter. Phillips Wealth Planners LLC lifted its holdings in shares of Snap-on by 3.8% during the 1st quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after acquiring an additional 37 shares during the last quarter. TFB Advisors LLC grew its position in Snap-on by 3.2% in the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares in the last quarter. Financial Advocates Investment Management increased its stake in Snap-on by 1.2% in the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after acquiring an additional 39 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 in the last quarter. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Friday. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Robert W. Baird decreased their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One investment analyst has 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Trading Up 0.6 %

NYSE SNA opened at $284.80 on Tuesday. The firm has a market cap of $15.01 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The stock has a 50-day moving average of $277.51 and a 200-day moving average of $276.50. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $4.89 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.61%. Snap-on’s payout ratio is currently 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.