Advisors Capital Management LLC Boosts Position in Snap-on Incorporated (NYSE:SNA)

Advisors Capital Management LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the company’s stock after buying an additional 39 shares during the quarter. Advisors Capital Management LLC’s holdings in Snap-on were worth $400,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNA. Bleakley Financial Group LLC purchased a new position in Snap-on in the 4th quarter worth approximately $512,000. Vest Financial LLC grew its position in Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after acquiring an additional 2,460 shares in the last quarter. World Investment Advisors LLC purchased a new position in Snap-on in the third quarter worth $19,291,000. Avanza Fonder AB bought a new position in Snap-on in the fourth quarter valued at $1,936,000. Finally, Empirical Finance LLC lifted its stake in Snap-on by 45.8% during the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,856 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of NYSE:SNA opened at $337.31 on Wednesday. The business has a 50-day simple moving average of $333.12 and a two-hundred day simple moving average of $337.49. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm earned $4.75 earnings per share. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Friday, April 11th. Tigress Financial upped their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Finally, Robert W. Baird lowered their price target on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Snap-on presently has an average rating of “Moderate Buy” and a consensus target price of $355.67.

Snap-on Company 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.