NewSquare Capital LLC Buys 10,066 Shares of Snap-On Incorporated $SNA

NewSquare Capital LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 62,912.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,082 shares of the company’s stock after purchasing an additional 10,066 shares during the period. NewSquare Capital LLC’s holdings in Snap-On were worth $3,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On during the 2nd quarter valued at about $30,000. Ransom Advisory Ltd acquired a new position in Snap-On during the 1st quarter worth approximately $34,000. Cullen Frost Bankers Inc. raised its stake in Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after buying an additional 72 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after buying an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. acquired a new position in Snap-On during the 2nd quarter worth approximately $45,000. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Trading Up 0.5%

NYSE SNA opened at $337.31 on Tuesday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $336.23 and a 200-day moving average of $325.15. The firm has a market cap of $17.54 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $4.70 EPS. Snap-On’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio is presently 44.89%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Robert W. Baird lifted their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Company 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.