Optas LLC Has $217,000 Holdings in Snap-on Incorporated (NYSE:SNA)

Optas LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 645 shares of the company’s stock after purchasing an additional 52 shares during the quarter. Optas LLC’s holdings in Snap-on were worth $217,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in Snap-on by 9.6% during the first quarter. Exchange Traded Concepts LLC now owns 946 shares of the company’s stock worth $319,000 after acquiring an additional 83 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Snap-on by 8.3% during the first quarter. Ritholtz Wealth Management now owns 1,108 shares of the company’s stock valued at $373,000 after purchasing an additional 85 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Snap-on during the 1st quarter worth about $35,000. Hennessy Advisors Inc. acquired a new stake in shares of Snap-on in the 1st quarter valued at about $2,629,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Snap-on by 6.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company’s stock valued at $15,949,000 after buying an additional 2,790 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of NYSE:SNA opened at $309.86 on Monday. 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 has a market cap of $16.20 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The stock’s fifty day simple moving average is $319.15 and its two-hundred day simple moving average is $333.81. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company earned $4.91 EPS. As a group, analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were paid a $2.14 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.76%. Snap-on’s payout ratio is presently 44.82%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNA. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Wall Street Zen raised shares of Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Robert W. Baird lowered their price objective on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.83.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. 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 business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $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 a total of 52,515 shares of company stock valued at $17,094,296 over the last three months. Corporate insiders own 3.90% of the company’s stock.

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.