Capital Investment Advisors LLC Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Capital Investment Advisors LLC raised its position in Snap-on Incorporated (NYSE:SNA – Get Rating) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,838 shares of the company’s stock after acquiring an additional 888 shares during the quarter. Capital Investment Advisors LLC’s holdings in Snap-on were worth $13,734,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of Snap-on by 22.5% during the fourth quarter. First Trust Advisors LP now owns 1,229,336 shares of the company’s stock valued at $264,774,000 after buying an additional 225,831 shares during the period. JPMorgan Chase & Co. increased its position in shares of Snap-on by 16.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,462,141 shares of the company’s stock valued at $314,916,000 after buying an additional 210,923 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Snap-on by 104.0% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 413,215 shares of the company’s stock valued at $88,998,000 after buying an additional 210,659 shares during the period. Miller Howard Investments Inc. NY purchased a new position in shares of Snap-on during the fourth quarter valued at about $34,327,000. Finally, Millennium Management LLC increased its position in shares of Snap-on by 705.4% during the fourth quarter. Millennium Management LLC now owns 157,416 shares of the company’s stock valued at $33,904,000 after buying an additional 137,870 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Several equities analysts recently issued reports on SNA shares. StockNews.com started coverage on shares of Snap-on in a research report on Thursday, March 31st. They set a “buy” rating on the stock. MKM Partners assumed coverage on shares of Snap-on in a research report on Thursday, June 9th. They set a “neutral” rating and a $238.00 price target on the stock. Finally, Tigress Financial boosted their price objective on shares of Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $254.50.

In other news, CEO Nicholas T. Pinchuk sold 19,394 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total value of $4,200,352.52. Following the transaction, the chief executive officer now owns 622,123 shares in the company, valued at $134,739,399.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

NYSE:SNA opened at $196.60 on Thursday. Snap-on Incorporated has a one year low of $190.08 and a one year high of $235.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.16 and a quick ratio of 2.32. The company’s 50-day simple moving average is $215.33 and its 200 day simple moving average is $212.69. The firm has a market capitalization of $10.49 billion, a P/E ratio of 12.74, a PEG ratio of 1.59 and a beta of 1.08.

Snap-on (NYSE:SNA – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.68 by $0.32. Snap-on had a net margin of 19.54% and a return on equity of 20.34%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $3.50 earnings per share. Snap-on’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Snap-on Incorporated will post 15.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 20th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $5.68 annualized dividend and a dividend yield of 2.89%. Snap-on’s dividend payout ratio is presently 36.81%.

About Snap-on (Get Rating)

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.

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