Wealthspire Advisors LLC Invests $221,000 in Snap-on Incorporated (NYSE:SNA)

Wealthspire Advisors LLC bought a new position in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 651 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bleakley Financial Group LLC bought a new stake in shares of Snap-on in the 4th quarter worth $512,000. Vest Financial LLC grew its holdings in shares of Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after acquiring an additional 2,460 shares during the period. Asset Management One Co. Ltd. grew its holdings in Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares during the period. Sanctuary Advisors LLC grew its holdings in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Snap-on during the third quarter valued at about $19,291,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Down 0.9 %

Shares of NYSE:SNA opened at $336.17 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $17.61 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s 50 day moving average is $343.30 and its 200 day moving average is $325.04. 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 (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company earned $4.75 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Activity

In related news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,503 shares of company stock worth $15,906,074. Insiders own 4.10% of the company’s stock.

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.