Arete Wealth Advisors LLC Has $375,000 Position in Snap-On Incorporated $SNA

Arete Wealth Advisors LLC trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 16.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,114 shares of the company’s stock after selling 222 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Snap-On were worth $375,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the first quarter worth about $25,000. Golden State Wealth Management LLC increased its holdings in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Snap-On during the 1st quarter worth $35,000. Finally, ORG Partners LLC boosted its position in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after buying an additional 95 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction on 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. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Robert W. Baird upped their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Bank of America increased their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.00.

Snap-On Stock Performance

Shares of Snap-On stock opened at $324.21 on Thursday. The stock’s fifty day simple moving average is $324.47 and its 200 day simple moving average is $323.04. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.91 billion, a PE ratio of 17.29, a PEG ratio of 2.24 and a beta of 0.77. Snap-On Incorporated has a 12 month low of $269.58 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $5.07 earnings per share. The company’s revenue was up .0% on a year-over-year basis. On average, research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is presently 45.65%.

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.