Snap-on Incorporated (NYSE:SNA) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 11.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,280 shares of the company’s stock after buying an additional 230 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Snap-on were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. Quadrant Capital Group LLC raised its holdings in shares of Snap-on by 17.7% in the 4th quarter. Quadrant Capital Group LLC now owns 539 shares of the company’s stock valued at $156,000 after buying an additional 81 shares during the period. TrinityPoint Wealth LLC boosted its stake in shares of Snap-on by 8.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock valued at $1,078,000 after purchasing an additional 276 shares during the period. ING Groep NV boosted its stake in shares of Snap-on by 19.2% in the fourth quarter. ING Groep NV now owns 3,626 shares of the company’s stock valued at $1,047,000 after purchasing an additional 583 shares during the period. Norges Bank acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $145,665,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Snap-on by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 86,618 shares of the company’s stock worth $25,019,000 after buying an additional 955 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,804 shares of company stock worth $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of several research reports. Robert W. Baird dropped their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Stock Performance

NYSE:SNA opened at $280.08 on Wednesday. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm has a market capitalization of $14.77 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.98. The business’s fifty day moving average price is $275.73 and its 200 day moving average price is $276.58.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.89 EPS. On average, sell-side analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on announced that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.66%. Snap-on’s dividend payout ratio is presently 39.03%.

Snap-on Company 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.