Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 1,921 Shares of Snap-On Incorporated $SNA

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Snap-On Incorporated (NYSE:SNA) by 50.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,744 shares of the company’s stock after acquiring an additional 1,921 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap-On were worth $2,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP lifted its holdings in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after buying an additional 1,273 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Snap-On by 32.9% during the 2nd 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 period. Finally, Natixis grew its stake in Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after purchasing an additional 1,761 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the sale, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,117 shares of company stock valued at $14,003,922 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Up 0.9%

SNA stock opened at $404.86 on Wednesday. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $414.62. The business’s 50-day moving average is $383.85 and its two-hundred day moving average is $375.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.82 and a beta of 0.73.

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

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

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s payout ratio is currently 50.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Robert W. Baird upped their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays began coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Finally, Roth Capital reiterated a “buy” rating and set a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.67.

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.