Wealthspire Advisors LLC Purchases New Holdings in Snap-on Incorporated (NYSE:SNA)

Wealthspire Advisors LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 651 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bleakley Financial Group LLC purchased a new position in Snap-on in the 4th quarter valued at about $512,000. Vest Financial LLC lifted its stake in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after buying an additional 67 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in Snap-on in the 3rd quarter worth approximately $19,291,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

NYSE:SNA opened at $336.17 on Friday. The company has a fifty day simple moving average of $343.30 and a two-hundred day simple moving average of $325.04. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the company earned $4.75 earnings per share. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,503 shares of company stock valued at $15,906,074 over the last ninety days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and an average price target of $345.40.

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.