Peak Retirement Planning Inc. Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Peak Retirement Planning Inc. acquired a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,294 shares of the company's stock, valued at approximately $782,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Snap-on by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after purchasing an additional 19,328 shares during the last quarter. First Trust Advisors LP raised its stake in Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after acquiring an additional 411,317 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock worth $613,195,000 after purchasing an additional 77,486 shares during the period. Geode Capital Management LLC increased its stake in Snap-on by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after buying an additional 27,700 shares during the period. Finally, Earnest Partners LLC raised its position in Snap-on by 1.9% during the 4th quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after buying an additional 18,209 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNA shares. 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. Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Robert W. Baird cut their target price on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Finally, Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-on Price Performance

Shares of NYSE SNA traded up $1.92 on Thursday, hitting $322.24. The company's stock had a trading volume of 100,891 shares, compared to its average volume of 362,058. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a 50 day moving average of $321.62 and a 200-day moving average of $337.78. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the business earned $4.91 earnings per share. As a group, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

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.