Kestra Private Wealth Services LLC Has $1.75 Million Stock Position in Snap-On Incorporated $SNA

Kestra Private Wealth Services LLC grew its position in Snap-On Incorporated (NYSE:SNA) by 55.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,088 shares of the company’s stock after buying an additional 1,808 shares during the period. Kestra Private Wealth Services LLC’s holdings in Snap-On were worth $1,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennebec Savings Bank increased its stake in shares of Snap-On by 3.6% in the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after buying an additional 27 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Snap-On by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after purchasing an additional 31 shares during the period. CWM LLC grew its stake in shares of Snap-On by 0.6% during the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after purchasing an additional 31 shares during the period. Cardinal Capital Management grew its stake in shares of Snap-On by 0.3% during the third quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock worth $3,880,000 after purchasing an additional 32 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Snap-On by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Tigress Financial lifted their price objective on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Robert W. Baird lifted their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.20.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the sale, the chief financial officer directly owned 117,183 shares in the company, valued at $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 39,650 shares of company stock valued at $15,210,959. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Up 1.5%

NYSE:SNA opened at $384.00 on Friday. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.66 and a beta of 0.77. The stock has a 50-day moving average price of $374.37 and a two-hundred day moving average price of $360.04.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm posted $4.51 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Snap-On Incorporated will post 19.75 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, May 20th. Snap-On’s payout ratio is 50.39%.

Snap-On announced that its Board of Directors has approved a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.