Brookstone Capital Management Boosts Stock Holdings in Snap-On Incorporated $SNA

Brookstone Capital Management lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,831 shares of the company’s stock after purchasing an additional 96 shares during the period. Brookstone Capital Management’s holdings in Snap-On were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Cullen Frost Bankers Inc. raised its stake in shares of Snap-On by 146.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $78,000 after purchasing an additional 148 shares during the period. Journey Advisory Group LLC raised its stake in shares of Snap-On by 1.7% during the 2nd quarter. Journey Advisory Group LLC now owns 10,788 shares of the company’s stock worth $3,357,000 after purchasing an additional 182 shares during the period. Madison Wealth Partners Inc bought a new stake in shares of Snap-On during the 2nd quarter worth $247,000. Sigma Investment Counselors Inc. raised its stake in shares of Snap-On by 3.7% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 17,536 shares of the company’s stock worth $5,457,000 after purchasing an additional 632 shares during the period. Finally, Burford Brothers Inc. bought a new stake in shares of Snap-On during the 2nd quarter worth $507,000. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last three months. 3.90% of the stock is owned by insiders.

Snap-On Trading Down 0.7%

Shares of SNA opened at $344.10 on Monday. The business’s 50-day moving average price is $334.54 and its 200-day moving average price is $324.71. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89. The stock has a market cap of $17.90 billion, a PE ratio of 18.04, a P/E/G ratio of 2.38 and a beta of 0.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

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

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On’s payout ratio is presently 44.89%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNA. Tigress Financial boosted their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird boosted 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. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Finally, Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

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.