J.W. Cole Advisors Inc. Buys 2,442 Shares of Snap-On Incorporated $SNA

J.W. Cole Advisors Inc. lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 385.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,075 shares of the company’s stock after purchasing an additional 2,442 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Snap-On were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC increased its holdings in shares of Snap-On by 21,600.8% during the second quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock worth $51,322,000 after buying an additional 164,166 shares in the last quarter. XTX Topco Ltd grew its position in Snap-On by 132.6% during the 2nd quarter. XTX Topco Ltd now owns 7,500 shares of the company’s stock worth $2,334,000 after acquiring an additional 4,275 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Snap-On by 2.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,002 shares of the company’s stock worth $623,000 after purchasing an additional 56 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Snap-On by 11.8% in the 2nd quarter. CreativeOne Wealth LLC now owns 3,761 shares of the company’s stock worth $1,170,000 after purchasing an additional 397 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Snap-On in the second quarter valued at about $1,244,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

SNA stock opened at $342.98 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.33 and a beta of 0.81. The company’s fifty day simple moving average is $338.06 and its 200 day simple moving average is $326.76. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89.

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

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $2.44 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNA. Robert W. Baird upped their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America raised their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Finally, Tigress Financial lifted their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. 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, Snap-On currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.

Snap-On Company 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.