Benjamin F. Edwards & Company Inc. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Benjamin F. Edwards & Company Inc. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1,416.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,657 shares of the company’s stock after acquiring an additional 137,920 shares during the quarter. Snap-on accounts for about 0.9% of Benjamin F. Edwards & Company Inc.’s investment portfolio, making the stock its 19th largest holding. Benjamin F. Edwards & Company Inc. owned approximately 0.28% of Snap-on worth $42,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SNA. Nordea Investment Management AB raised its position in Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 shares during the last quarter. FMR LLC raised its position in Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after purchasing an additional 107,582 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Snap-on by 388.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock valued at $32,560,000 after purchasing an additional 101,499 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in Snap-on during the 3rd quarter valued at approximately $23,490,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares in the company, valued at approximately $2,333,379.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the transaction, the senior vice president now owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock worth $14,089,523 in the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.3 %

Snap-on stock traded down $0.87 during mid-day trading on Thursday, reaching $266.87. 339,520 shares of the company were exchanged, compared to its average volume of 314,210. The business has a fifty day moving average of $284.33 and a 200 day moving average of $279.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The firm has a market cap of $14.07 billion, a P/E ratio of 14.02, a PEG ratio of 1.85 and a beta of 1.00. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $4.60 EPS. Research analysts anticipate that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.79%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $316.75.

About Snap-on

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.