AE Wealth Management LLC Raises Stock Holdings in Snap-On Incorporated (NYSE:SNA)

AE Wealth Management LLC increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 6.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,090 shares of the company’s stock after acquiring an additional 62 shares during the period. AE Wealth Management LLC’s holdings in Snap-On were worth $368,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SNA. Alpine Bank Wealth Management purchased a new stake in shares of Snap-On during the first quarter valued at $25,000. Golden State Wealth Management LLC grew its stake in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On during the first quarter valued at approximately $35,000. Finally, ORG Partners LLC boosted its holdings in shares of Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Down 0.9%

SNA opened at $322.45 on Thursday. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.26 and a beta of 0.76. Snap-On Incorporated has a 12 month low of $266.56 and a 12 month high of $373.89. The stock has a fifty day moving average price of $318.99 and a 200-day moving average price of $327.44.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $5.07 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $356.17.

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.