Snap-On Incorporated $SNA Shares Acquired by TFB Advisors LLC

TFB Advisors LLC grew its position in Snap-On Incorporated (NYSE:SNA) by 10.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,338 shares of the company’s stock after acquiring an additional 130 shares during the quarter. TFB Advisors LLC’s holdings in Snap-On were worth $416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. GAMMA Investing LLC lifted its stake in shares of Snap-On by 93.5% in the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company’s stock valued at $703,000 after purchasing an additional 1,008 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Snap-On by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,982 shares of the company’s stock valued at $5,386,000 after buying an additional 689 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Snap-On by 1.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,617 shares of the company’s stock valued at $4,252,000 after buying an additional 200 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Snap-On by 1.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 21,642 shares of the company’s stock valued at $7,294,000 after buying an additional 346 shares during the period. Finally, Archford Capital Strategies LLC raised its holdings in shares of Snap-On by 15.5% during the 1st quarter. Archford Capital Strategies LLC now owns 7,209 shares of the company’s stock valued at $2,430,000 after buying an additional 969 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. 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. Company insiders own 3.90% of the company’s stock.

Snap-On Price Performance

SNA stock opened at $342.79 on Thursday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89. The stock’s 50 day moving average is $333.74 and its two-hundred day moving average is $324.14. The company has a market capitalization of $17.83 billion, a PE ratio of 17.98, a P/E/G ratio of 2.39 and a beta of 0.78.

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

Snap-On Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNA shares. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Tigress Financial raised their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.00.

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.