Private Advisor Group LLC Has $2.63 Million Stake in Snap-on Incorporated (NYSE:SNA)

Private Advisor Group LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,557 shares of the company’s stock after buying an additional 185 shares during the quarter. Private Advisor Group LLC’s holdings in Snap-on were worth $2,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Envestnet Asset Management Inc. boosted its position in Snap-on by 968.6% in the first quarter. Envestnet Asset Management Inc. now owns 5,349,981 shares of the company’s stock valued at $134,881,000 after buying an additional 4,849,325 shares in the last quarter. Norges Bank acquired a new position in shares of Snap-on during the fourth quarter worth $112,490,000. Bank of Montreal Can acquired a new position in shares of Snap-on during the second quarter worth $108,803,000. Wellington Management Group LLP lifted its holdings in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after purchasing an additional 237,843 shares during the period. Finally, Portside Wealth Group LLC acquired a new position in shares of Snap-on during the second quarter worth $28,847,000. 83.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNA has been the topic of a number of recent research reports. Tigress Financial lifted their price target on shares of Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Thursday, October 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Monday, July 24th. Finally, StockNews.com initiated coverage on shares of Snap-on in a report on Thursday, October 5th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $298.17.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the transaction, the chief financial officer now directly owns 86,888 shares of the company’s stock, valued at $22,775,951.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,078 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $258.16, for a total value of $5,699,656.48. Following the completion of the sale, the chief executive officer now directly owns 697,506 shares of the company’s stock, valued at $180,068,148.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,842 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total value of $1,269,233.46. Following the completion of the sale, the chief financial officer now directly owns 86,888 shares of the company’s stock, valued at $22,775,951.44. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Snap-on Trading Down 0.2 %

NYSE:SNA opened at $275.27 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.67 and a quick ratio of 2.62. The firm has a 50-day moving average of $260.08 and a 200-day moving average of $266.57. The company has a market cap of $14.53 billion, a PE ratio of 14.94, a PEG ratio of 1.86 and a beta of 1.06. Snap-on Incorporated has a one year low of $220.21 and a one year high of $297.26.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 19th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.44 by $0.07. Snap-on had a net margin of 21.21% and a return on equity of 21.20%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $4.14 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Snap-on Incorporated will post 18.62 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be given a dividend of $1.86 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.62. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, November 20th. Snap-on’s dividend payout ratio is currently 35.18%.

Snap-on Profile

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.