Alliance Wealth Advisors LLC UT Lowers Position in Snap-On Incorporated $SNA

Key Points

• Alliance Wealth Advisors LLC UT cut its Snap‑On stake by 33.0% in Q4, selling 3,520 shares to hold 7,145 shares valued at $2.462 million, while institutional investors still own 84.88% of the stock.
• Company insiders have been selling: CEO Nicholas T. Pinchuk sold 23,229 shares and SVP Timothy L. Chambers sold 8,000, with insiders selling a total of 39,650 shares worth about $15.21 million in the past 90 days.
• Snap‑On authorized a $500.0 million buyback (up to 2.6% of shares) and declared a $2.44 quarterly dividend (2.6% yield); the latest quarter slightly missed EPS by $0.06 but beat revenue, and analysts' consensus is a "Moderate Buy" with a $381.20 target.

Alliance Wealth Advisors LLC UT decreased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 33.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,145 shares of the company's stock after selling 3,520 shares during the period. Alliance Wealth Advisors LLC UT's holdings in Snap-On were worth $2,462,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Snap-On by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company's stock valued at $2,248,683,000 after buying an additional 31,073 shares during the period. State Street Corp grew its position in shares of Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company's stock worth $777,603,000 after buying an additional 36,130 shares during the period. First Trust Advisors LP increased its stake in shares of Snap-On by 1.3% in the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company's stock worth $664,149,000 after acquiring an additional 23,863 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Snap-On by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock worth $454,206,000 after acquiring an additional 51,486 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Snap-On by 2.0% during the 3rd quarter. Bank of America Corp DE now owns 933,495 shares of the company's stock valued at $323,484,000 after acquiring an additional 18,549 shares during the period. Institutional investors own 84.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SNA shares. Roth Mkm reaffirmed a "buy" rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded Snap-On from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $381.20.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of Snap-On stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer directly owned 846,562 shares in the company, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares of the company's stock, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 39,650 shares of company stock valued at $15,210,959. Company insiders own 3.80% of the company's stock.

Snap-On Trading Down 2.1%

Shares of NYSE SNA opened at $372.42 on Tuesday. The firm's 50 day moving average price is $374.37 and its 200-day moving average price is $360.39. Snap-On Incorporated has a 52-week low of $301.82 and a 52-week high of $400.88. 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 $19.29 billion, a PE ratio of 19.23, a P/E/G ratio of 2.67 and a beta of 0.75.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On's revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $4.51 EPS. On average, equities research analysts expect that Snap-On Incorporated will post 19.75 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a $2.44 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's payout ratio is currently 50.39%.

Snap-On declared that its board has authorized a stock repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Snap-On 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.

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