Snap-on Incorporated (NYSE:SNA) Shares Acquired by Strategic Global Advisors LLC

Strategic Global Advisors LLC boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,496 shares of the company’s stock after acquiring an additional 1,027 shares during the period. Snap-on accounts for about 1.6% of Strategic Global Advisors LLC’s investment portfolio, making the stock its 19th largest position. Strategic Global Advisors LLC’s holdings in Snap-on were worth $8,655,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the fourth quarter valued at $512,000. Vest Financial LLC boosted its stake in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after purchasing an additional 2,460 shares during the last quarter. Ethic Inc. grew its holdings in shares of Snap-on by 18.6% during the fourth quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after buying an additional 1,445 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $1,936,000. Finally, Empirical Finance LLC lifted its stake in shares of Snap-on by 45.8% during the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock valued at $2,005,000 after buying an additional 1,856 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Up 1.2%

Shares of SNA opened at $331.78 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The firm has a market capitalization of $17.35 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $322.45 and its 200 day simple moving average is $338.77.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the business earned $4.91 earnings per share. On average, equities research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.58%. Snap-on’s payout ratio is 44.82%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,113 shares of company stock valued at $11,752,590 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNA. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Thursday, April 17th. StockNews.com raised Snap-on from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird dropped their price objective on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Tigress Financial increased their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.83.

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.