Ritholtz Wealth Management Purchases 180 Shares of Snap-On Incorporated $SNA

Ritholtz Wealth Management grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 16.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,288 shares of the company’s stock after buying an additional 180 shares during the period. Ritholtz Wealth Management’s holdings in Snap-On were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Alpine Bank Wealth Management acquired a new stake in Snap-On in the 1st quarter worth about $25,000. Ameritas Advisory Services LLC bought a new position in shares of Snap-On during the second quarter worth approximately $30,000. Golden State Wealth Management LLC raised its position in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in Snap-On during the first quarter worth approximately $34,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Up 0.3%

Shares of NYSE SNA opened at $340.76 on Tuesday. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.36 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The stock has a 50-day moving average price of $333.16 and a two-hundred day moving average price of $323.86.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.70 EPS. As a group, analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is 44.89%.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock valued at $8,983,203 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNA. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.57.

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.