Snap-on Incorporated (NYSE:SNA) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942 shares of the company’s stock after purchasing an additional 141 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Snap-on were worth $272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Snap-on by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after purchasing an additional 26,260 shares during the last quarter. Nordea Investment Management AB lifted its stake in Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Northern Trust Corp raised its holdings in Snap-on by 4.6% during the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock worth $212,758,000 after purchasing an additional 36,556 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Snap-on by 5.8% in the 3rd quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock valued at $197,705,000 after buying an additional 42,701 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after acquiring an additional 147,997 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Robert W. Baird decreased their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Stock Performance

NYSE:SNA opened at $276.86 on Wednesday. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The firm’s fifty day simple moving average is $284.38 and its 200 day simple moving average is $279.81. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.87 and a beta of 1.00.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 EPS. As a group, equities research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the transaction, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 7,522 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total value of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares in the company, valued at $26,014,052.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is currently owned by company insiders.

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.