Sanctuary Advisors LLC Purchases 2,714 Shares of Snap-On Incorporated $SNA

Sanctuary Advisors LLC raised its position in Snap-On Incorporated (NYSE:SNA) by 8.0% during the first quarter, HoldingsChannel.com reports. The firm owned 36,690 shares of the company’s stock after purchasing an additional 2,714 shares during the period. Sanctuary Advisors LLC’s holdings in Snap-On were worth $13,326,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On during the fourth quarter valued at approximately $25,000. DV Equities LLC purchased a new stake in shares of Snap-On in the fourth quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in shares of Snap-On during the 4th quarter worth approximately $28,000. Montag A & Associates Inc. lifted its stake in shares of Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC purchased a new position in Snap-On during the 4th quarter valued at $35,000. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird increased their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Roth Capital restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Stock Up 2.8%

NYSE:SNA opened at $415.17 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $415.40. The company has a 50-day moving average of $385.08 and a 200 day moving average of $376.20. The firm has a market cap of $21.51 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted $4.51 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Snap-On declared that its board has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the sale, the chief financial officer directly owned 119,488 shares in the company, valued at $43,874,798.72. This trade represents a 4.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 37,117 shares of company stock worth $14,003,922. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.