Snap-on Incorporated (NYSE:SNA) Shares Acquired by Norden Group LLC

Norden Group LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 1,678.2% during the first quarter, HoldingsChannel.com reports. The fund owned 30,976 shares of the company’s stock after buying an additional 29,234 shares during the period. Norden Group LLC’s holdings in Snap-on were worth $9,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Snap-on by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,573 shares of the company’s stock valued at $1,355,000 after buying an additional 614 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Snap-on by 6.1% in the 1st quarter. Claro Advisors LLC now owns 3,372 shares of the company’s stock worth $999,000 after acquiring an additional 193 shares during the period. Diversified Trust Co boosted its holdings in shares of Snap-on by 7.4% in the first quarter. Diversified Trust Co now owns 3,755 shares of the company’s stock valued at $1,112,000 after acquiring an additional 260 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Snap-on during the first quarter worth about $422,000. Finally, MCF Advisors LLC raised its holdings in Snap-on by 12.9% during the first quarter. MCF Advisors LLC now owns 843 shares of the company’s stock worth $250,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Snap-on stock opened at $256.85 on Thursday. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.78 and a beta of 0.98. The stock has a fifty day moving average of $269.76 and a two-hundred day moving average of $279.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $4.60 EPS. On average, analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Wednesday, May 22nd. 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, Robert W. Baird lowered their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average price target of $316.75.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,632 shares of company stock valued at $10,353,409. Company insiders own 4.10% of the company’s stock.

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.