Snap-on Incorporated (NYSE:SNA) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 63.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,532 shares of the company’s stock after acquiring an additional 17,338 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Snap-on worth $15,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH increased its stake in Snap-on by 651.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 6,148 shares of the company’s stock worth $2,090,000 after acquiring an additional 5,330 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Snap-on in the fourth quarter valued at $15,110,000. Mackenzie Financial Corp grew its stake in shares of Snap-on by 40.3% in the fourth quarter. Mackenzie Financial Corp now owns 6,119 shares of the company’s stock valued at $2,077,000 after buying an additional 1,758 shares in the last quarter. Peak Retirement Planning Inc. acquired a new stake in shares of Snap-on in the fourth quarter valued at $782,000. Finally, Toronto Dominion Bank grew its stake in shares of Snap-on by 4.3% in the fourth quarter. Toronto Dominion Bank now owns 18,426 shares of the company’s stock valued at $6,255,000 after buying an additional 761 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares of the company’s stock, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Snap-on Trading Down 0.5%

SNA opened at $320.68 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business has a fifty day moving average price of $321.01 and a 200 day moving average price of $337.23.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $4.91 earnings per share. Sell-side analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is 44.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, May 19th. Finally, Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $350.83.

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.