CapWealth Advisors LLC Grows Stock Position in Snap-on Incorporated (NYSE:SNA)

CapWealth Advisors LLC grew its stake in Snap-on Incorporated (NYSE:SNA) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,513 shares of the company’s stock after buying an additional 1,201 shares during the quarter. Snap-on accounts for about 1.6% of CapWealth Advisors LLC’s portfolio, making the stock its 26th largest holding. CapWealth Advisors LLC owned about 0.08% of Snap-on worth $12,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Snap-on by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after purchasing an additional 44,555 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Snap-on by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after buying an additional 26,260 shares in the last quarter. JPMorgan Chase & Co. grew its position in Snap-on by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock valued at $309,984,000 after buying an additional 8,649 shares during the period. Ariel Investments LLC increased its holdings in Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock valued at $232,038,000 after buying an additional 20,485 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Snap-on by 3.6% in the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after acquiring an additional 30,664 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Anup R. Banerjee sold 12,397 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the completion of the transaction, the senior vice president now directly owns 11,420 shares in the company, valued at approximately $3,233,344.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock worth $13,399,449 in the last three months. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SNA. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Thursday. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $306.00.

Snap-on Price Performance

Shares of SNA traded down $16.64 during trading hours on Thursday, hitting $266.86. 481,286 shares of the stock were exchanged, compared to its average volume of 307,123. The stock’s 50-day moving average price is $283.74 and its two-hundred day moving average price is $278.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $239.08 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 earnings per share. Research analysts expect that Snap-on Incorporated will post 19.22 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is currently 39.68%.

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.