Snap-on Incorporated (NYSE:SNA) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 4.6% in the first quarter, Holdings Channel reports. The institutional investor owned 3,078 shares of the company’s stock after purchasing an additional 134 shares during the period. Portside Wealth Group LLC’s holdings in Snap-on were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Bleakley Financial Group LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $512,000. Ethic Inc. lifted its position in shares of Snap-on by 18.6% during the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after buying an additional 1,445 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Snap-on by 45.8% in the 4th 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 in the last quarter. Advyzon Investment Management LLC purchased a new position in shares of Snap-on in the 4th quarter valued at $272,000. Finally, Assetmark Inc. grew its position in shares of Snap-on by 4.0% in the 4th quarter. Assetmark Inc. now owns 136,472 shares of the company’s stock valued at $46,330,000 after buying an additional 5,187 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,515 shares of company stock worth $17,094,296 in the last ninety days. Insiders own 3.90% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $320.73 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company’s fifty day moving average is $318.98 and its two-hundred day moving average is $335.28. The firm has a market capitalization of $16.77 billion, a P/E ratio of 16.45, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share 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 analyst estimates 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 in the prior year, the company earned $4.91 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, May 19th. Robert W. Baird lowered their target price on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and a consensus 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.