Laurel Wealth Advisors LLC Has $51.32 Million Stock Position in Snap-On Incorporated $SNA

Laurel Wealth Advisors LLC raised its position in Snap-On Incorporated (NYSE:SNA) by 21,600.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,926 shares of the company’s stock after buying an additional 164,166 shares during the period. Laurel Wealth Advisors LLC owned 0.32% of Snap-On worth $51,322,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock worth $1,553,000 after acquiring an additional 32 shares in the last quarter. Horizon Investments LLC raised its position in Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after purchasing an additional 32 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Snap-On by 13.5% in the second quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after purchasing an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Snap-On by 5.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after purchasing an additional 34 shares during the last quarter. Finally, PAX Financial Group LLC increased its stake in shares of Snap-On by 5.4% in the second quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock valued at $206,000 after buying an additional 34 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-On Price Performance

NYSE SNA opened at $340.56 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 2.33 and a beta of 0.81. The business has a 50 day simple moving average of $338.96 and a 200 day simple moving average of $328.19. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company earned $4.70 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.9%. Snap-On’s dividend payout ratio is currently 51.18%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Activity

In other news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

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.