Prospera Financial Services Inc Purchases 6,754 Shares of Snap-On Incorporated $SNA

Prospera Financial Services Inc boosted its position in shares of Snap-On Incorporated (NYSE:SNA) by 113.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,721 shares of the company’s stock after acquiring an additional 6,754 shares during the period. Prospera Financial Services Inc’s holdings in Snap-On were worth $3,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNA. Penserra Capital Management LLC increased its holdings in shares of Snap-On by 13.5% in the second quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after purchasing an additional 33 shares during the period. Wedbush Securities Inc. grew its position in Snap-On by 15.1% during the second quarter. Wedbush Securities Inc. now owns 3,298 shares of the company’s stock worth $1,026,000 after buying an additional 432 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its stake in Snap-On by 18.2% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 10,578 shares of the company’s stock worth $3,292,000 after acquiring an additional 1,632 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Snap-On by 23.6% in the 2nd quarter. Savant Capital LLC now owns 2,372 shares of the company’s stock valued at $738,000 after acquiring an additional 453 shares in the last quarter. Finally, Mcrae Capital Management Inc. boosted its position in shares of Snap-On by 3.0% during the 2nd quarter. Mcrae Capital Management Inc. now owns 51,778 shares of the company’s stock valued at $16,112,000 after acquiring an additional 1,530 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Price Performance

SNA stock opened at $343.85 on Monday. The firm has a market cap of $17.88 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.33 and a beta of 0.81. The firm’s fifty day moving average is $337.31 and its 200 day moving average is $326.30. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates 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. Research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is 44.89%.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SNA. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Roth Capital restated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.