Kestra Private Wealth Services LLC Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Kestra Private Wealth Services LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,513 shares of the company’s stock after buying an additional 48 shares during the period. Kestra Private Wealth Services LLC’s holdings in Snap-on were worth $726,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Snap-on by 25.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. FMR LLC increased its position in shares of Snap-on by 229.8% in the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after purchasing an additional 107,582 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Snap-on by 388.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock worth $32,560,000 after purchasing an additional 101,499 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of Snap-on in the 3rd quarter worth about $23,490,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the sale, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares in the company, valued at approximately $2,333,379.05. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock valued at $14,089,523 over the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Trading Up 1.6 %

Shares of NYSE:SNA opened at $271.03 on Monday. The company has a 50 day moving average of $284.25 and a 200-day moving average of $279.49. The firm has a market cap of $14.29 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.87 and a beta of 1.00. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.60 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

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.