Snap-On Incorporated $SNA Position Lifted by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. boosted its stake in Snap-On Incorporated (NYSE:SNA) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,942 shares of the company’s stock after purchasing an additional 1,571 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Snap-On were worth $6,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management increased its holdings in shares of Snap-On by 2.4% in the 1st quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock worth $521,000 after buying an additional 34 shares during the last quarter. CX Institutional lifted its holdings in shares of Snap-On by 10.6% during the 2nd quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after acquiring an additional 43 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Snap-On by 0.4% during the 1st quarter. IFM Investors Pty Ltd now owns 11,301 shares of the company’s stock worth $4,105,000 after acquiring an additional 45 shares during the last quarter. Ascentis Independent Advisors lifted its holdings in shares of Snap-On by 2.5% during the 1st quarter. Ascentis Independent Advisors now owns 1,859 shares of the company’s stock worth $675,000 after acquiring an additional 46 shares during the last quarter. Finally, Sovran Advisors LLC grew its position in Snap-On by 6.7% in the first quarter. Sovran Advisors LLC now owns 752 shares of the company’s stock worth $288,000 after acquiring an additional 47 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president directly owned 1,526 shares in the company, valued at approximately $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer owned 867,779 shares in the company, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,220 shares of company stock valued at $11,704,411 over the last ninety days. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Robert W. Baird set a $385.00 target price on Snap-On in a research note on Friday. Barclays cut their price objective on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a report on Monday. Roth Capital reiterated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Thursday, October 15th. Finally, Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $434.00.

Snap-On Trading Down 0.1%

NYSE:SNA opened at $357.40 on Wednesday. The company has a fifty day moving average of $373.89 and a 200 day moving average of $380.21. Snap-On Incorporated has a 52 week low of $320.80 and a 52 week high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.93 by ($0.29). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 earnings per share. On average, sell-side analysts predict that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 19th.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.