Kestra Advisory Services LLC Has $2.06 Million Stake in Snap-On Incorporated $SNA

Kestra Advisory Services LLC trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 51.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,679 shares of the company’s stock after selling 5,949 shares during the period. Kestra Advisory Services LLC’s holdings in Snap-On were worth $2,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY acquired a new position in Snap-On in the 1st quarter valued at $51,244,000. Pensionfund Sabic acquired a new position in Snap-On during the 4th quarter worth $1,206,000. First Horizon Corp acquired a new position in Snap-On during the 4th quarter worth $4,068,000. Nordea Investment Management AB boosted its holdings in Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after acquiring an additional 51,486 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Snap-On by 9.9% during the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock valued at $31,545,000 after acquiring an additional 7,798 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Roth Capital reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Finally, Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $408.20.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the sale, the senior vice president directly owned 4,439 shares in the company, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 1,330 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the transaction, the chief financial officer directly owned 118,158 shares of the company’s stock, valued at approximately $44,813,784.66. The trade was a 1.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,117 shares of company stock valued at $14,003,922 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Snap-On Trading Up 0.0%

Shares of Snap-On stock opened at $411.01 on Monday. Snap-On Incorporated has a 52-week low of $312.78 and a 52-week high of $419.68. The firm has a market capitalization of $21.29 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The company’s fifty day moving average price is $385.83 and its two-hundred day moving average price is $376.62.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business posted $4.51 earnings per share. Snap-On’s revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On declared that its board has initiated a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Snap-On Profile

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.