1,800 Shares in Snap-On Incorporated $SNA Bought by CTC Alternative Strategies Ltd.

Key Points

• CTC Alternative Strategies Ltd. acquired 1,800 shares of Snap-On Incorporated, valued at approximately $607,000, during the first quarter of the year.
• Multiple hedge funds have significantly increased their positions in Snap-On, with institutional investors now holding 84.88% of the company's stock.
• Snap-On announced a quarterly dividend of $2.14 per share, payable on September 10th, representing an annualized yield of 2.6%.

CTC Alternative Strategies Ltd. bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,800 shares of the company's stock, valued at approximately $607,000.

A number of other hedge funds have also made changes to their positions in SNA. Alpine Bank Wealth Management purchased a new position in shares of Snap-On in the first quarter valued at $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the first quarter valued at $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of analyst reports. Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

Insider Activity

In other news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company's stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Down 0.0%

Shares of NYSE:SNA opened at $328.65 on Monday. The stock's 50-day moving average price is $323.96 and its two-hundred day moving average price is $323.10. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12-month low of $268.90 and a 12-month high of $373.89. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.29 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 EPS. On average, research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

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.

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