HighTower Advisors LLC Has $16.35 Million Position in Snap-On Incorporated $SNA

HighTower Advisors LLC boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,175 shares of the company’s stock after acquiring an additional 1,460 shares during the period. HighTower Advisors LLC’s holdings in Snap-On were worth $16,348,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tobam bought a new position in shares of Snap-On in the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC grew its stake in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after buying an additional 94 shares during the period. Quent Capital LLC acquired a new position in shares of Snap-On in the 3rd quarter valued at approximately $36,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Snap-On during the 2nd quarter worth approximately $37,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on Snap-On in a report on Friday, February 6th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.67.

Snap-On Stock Performance

NYSE SNA opened at $383.49 on Friday. The firm’s fifty day moving average price is $363.27 and its two-hundred day moving average price is $345.05. The stock has a market cap of $19.91 billion, a PE ratio of 19.98, a PEG ratio of 2.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.Snap-On’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $4.82 EPS. On average, equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s payout ratio is 50.86%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the sale, the chief financial officer directly owned 117,183 shares of the company’s stock, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. The trade was a 32.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,079 shares of company stock valued at $19,482,806 over the last three months. Insiders own 3.90% of the company’s stock.

Snap-On 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.