Laurel Wealth Advisors LLC Trims Holdings in Snap-on Incorporated (NYSE:SNA)

Laurel Wealth Advisors LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 760 shares of the company’s stock after selling 32 shares during the period. Laurel Wealth Advisors LLC’s holdings in Snap-on were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Snap-on by 12.2% in the second quarter. American Century Companies Inc. now owns 71,005 shares of the company’s stock worth $18,560,000 after acquiring an additional 7,746 shares during the period. Federated Hermes Inc. grew its position in Snap-on by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 17,673 shares of the company’s stock worth $4,620,000 after purchasing an additional 69 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Snap-on by 11.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,280 shares of the company’s stock valued at $596,000 after buying an additional 230 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after buying an additional 65,485 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Snap-on during the second quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,679 shares of company stock valued at $16,222,574. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock opened at $339.73 on Wednesday. The stock has a market capitalization of $17.84 billion, a P/E ratio of 17.48, a PEG ratio of 2.35 and a beta of 1.00. The business has a 50 day simple moving average of $351.87 and a two-hundred day simple moving average of $308.86. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s payout ratio is presently 44.06%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNA. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Finally, Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $345.40.

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.