Kestra Private Wealth Services LLC Buys 1,752 Shares of Snap-On Incorporated $SNA

Kestra Private Wealth Services LLC raised its stake in Snap-On Incorporated (NYSE:SNA) by 34.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,840 shares of the company’s stock after buying an additional 1,752 shares during the period. Kestra Private Wealth Services LLC’s holdings in Snap-On were worth $2,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP raised its holdings in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after acquiring an additional 1,273 shares during the period. EverSource Wealth Advisors LLC lifted its position in Snap-On by 100.9% during the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after acquiring an additional 233 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the last quarter. Finally, Natixis boosted its holdings in shares of Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after acquiring an additional 1,761 shares during the period. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNA has been the topic of several research reports. Barclays assumed coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Robert W. Baird boosted their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,117 shares of company stock valued at $13,192,082 in the last 90 days. 3.80% of the stock is owned by corporate insiders.

Snap-On Price Performance

Shares of NYSE SNA opened at $397.52 on Monday. The business has a fifty day moving average price of $378.13 and a two-hundred day moving average price of $370.69. The stock has a market capitalization of $20.59 billion, a PE ratio of 20.52, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. Snap-On Incorporated has a fifty-two week low of $307.47 and a fifty-two week high of $403.35.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.51 EPS. As a group, equities analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is presently 50.39%.

Snap-On announced that its board has authorized a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.