First Trust Advisors LP Purchases 411,317 Shares of Snap-on Incorporated (NYSE:SNA)

First Trust Advisors LP grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,819,403 shares of the company’s stock after buying an additional 411,317 shares during the period. Snap-on makes up 0.5% of First Trust Advisors LP’s holdings, making the stock its 21st biggest position. First Trust Advisors LP owned 3.46% of Snap-on worth $617,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. GeoWealth Management LLC raised its stake in Snap-on by 221.2% in the 4th quarter. GeoWealth Management LLC now owns 1,031 shares of the company’s stock worth $350,000 after purchasing an additional 710 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Snap-on by 2.9% during the fourth quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock worth $2,043,000 after purchasing an additional 168 shares during the period. Master S Wealth Management Inc. acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $345,000. Jump Financial LLC bought a new stake in shares of Snap-on in the fourth quarter valued at approximately $401,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Snap-on during the fourth quarter worth approximately $36,403,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNA shares. StockNews.com downgraded Snap-on from a “buy” rating to a “hold” rating in a research report on Friday. Tigress Financial upped their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Thursday. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average price target of $355.67.

Snap-on Stock Down 8.1 %

SNA stock opened at $305.16 on Friday. The stock has a market capitalization of $16.00 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $331.66 and a 200-day moving average price of $337.68. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $4.91 EPS. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

Snap-on Profile

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.