NewSquare Capital LLC Boosts Stake in Snap-On Incorporated $SNA

NewSquare Capital LLC grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 62,912.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,082 shares of the company’s stock after acquiring an additional 10,066 shares during the period. NewSquare Capital LLC’s holdings in Snap-On were worth $3,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC lifted its holdings in shares of Snap-On by 78.3% during the 1st quarter. Choreo LLC now owns 7,218 shares of the company’s stock valued at $2,432,000 after buying an additional 3,170 shares during the period. Advisors Capital Management LLC raised its holdings in Snap-On by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock worth $418,000 after purchasing an additional 63 shares during the period. Jump Financial LLC raised its holdings in Snap-On by 367.7% in the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after purchasing an additional 4,342 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Snap-On in the 1st quarter worth $1,986,000. Finally, Ascent Group LLC bought a new position in Snap-On in the 1st quarter worth $421,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of a number of analyst reports. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Five 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.00.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares of the company’s stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last ninety days. Insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.5%

Shares of NYSE SNA opened at $337.31 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The company has a market cap of $17.54 billion, a P/E ratio of 17.69, a PEG ratio of 2.33 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89. The firm has a 50-day simple moving average of $336.23 and a two-hundred day simple moving average of $325.15.

Snap-On (NYSE:SNA) last posted 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $4.70 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s payout ratio is currently 44.89%.

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.