New Age Alpha Advisors LLC Cuts Stock Holdings in Snap-On Incorporated $SNA

New Age Alpha Advisors LLC decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 92.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 492 shares of the company’s stock after selling 6,339 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Snap-On were worth $170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On during the fourth quarter worth about $25,000. GoalVest Advisory LLC purchased a new stake in Snap-On in the fourth quarter worth approximately $28,000. Montag A & Associates Inc. boosted its stake in Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. United Community Bank purchased a new stake in Snap-On in the fourth quarter worth approximately $43,000. Finally, MUFG Securities EMEA plc purchased a new stake in Snap-On in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Barclays began coverage on Snap-On in a research note on Thursday. They issued an “overweight” rating and a $420.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial upped their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Robert W. Baird upped their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Five investment 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.67.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Down 0.7%

Shares of SNA opened at $371.75 on Friday. The firm has a market cap of $19.26 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.63 and a beta of 0.75. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The stock has a 50 day simple moving average of $371.30 and a two-hundred day simple moving average of $364.00.

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

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On’s dividend payout ratio is 50.39%.

Snap-On announced that its board has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is 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.