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

Peak Retirement Planning Inc. bought a new position in Snap-on Incorporated (NYSE:SNA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,294 shares of the company's stock, valued at approximately $782,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Snap-on by 0.3% in 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 period. First Trust Advisors LP increased its stake in Snap-on by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after acquiring an additional 411,317 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock valued at $613,195,000 after acquiring an additional 77,486 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Snap-on by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after acquiring an additional 27,700 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Snap-on by 1.9% during the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after purchasing an additional 18,209 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Snap-on Trading Up 2.0%

NYSE:SNA traded up $6.29 during midday trading on Tuesday, reaching $325.58. 261,910 shares of the stock traded hands, compared to its average volume of 363,014. The stock has a market capitalization of $17.03 billion, a P/E ratio of 16.70, a PEG ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a fifty day moving average of $321.76 and a 200 day moving average of $337.90. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 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 the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the company posted $4.91 earnings per share. On average, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.63%. Snap-on's dividend payout ratio is presently 44.82%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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. Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Finally, Robert W. Baird cut their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

About Snap-on

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.