Snap-On Incorporated $SNA Position Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in Snap-On Incorporated (NYSE:SNA) by 76.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,875 shares of the company’s stock after buying an additional 2,119 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Snap-On were worth $1,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares in the last quarter. Woodline Partners LP grew its position in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after purchasing an additional 233 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis boosted its stake in Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On 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 transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP June C. Lemerand sold 1,378 shares of Snap-On stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,046 shares of company stock worth $20,921,434. 3.80% of the stock is owned by corporate insiders.

Snap-On Stock Performance

SNA opened at $370.19 on Tuesday. The firm has a market cap of $19.18 billion, a PE ratio of 19.11, a P/E/G ratio of 2.62 and a beta of 0.75. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $373.36 and a 200-day simple moving average of $361.65. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 earnings per share. As a group, equities analysts predict that Snap-On Incorporated will post 19.75 EPS for the current fiscal year.

Snap-On announced that its board has approved a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, May 20th. Snap-On’s dividend payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research reports. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial increased their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen lowered 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 research note on Monday, April 20th. Finally, Robert W. Baird raised their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Four 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $381.20.

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.