Archford Capital Strategies LLC Acquires 969 Shares of Snap-On Incorporated (NYSE:SNA)

Archford Capital Strategies LLC lifted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,209 shares of the company's stock after purchasing an additional 969 shares during the period. Archford Capital Strategies LLC's holdings in Snap-On were worth $2,430,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SNA. Berry Wealth Group LP acquired a new stake in Snap-On during the first quarter worth about $281,000. Asset Management One Co. Ltd. boosted its holdings in Snap-On by 1.6% during the first quarter. Asset Management One Co. Ltd. now owns 21,642 shares of the company's stock valued at $7,294,000 after purchasing an additional 346 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Snap-On by 0.6% during the first quarter. GHP Investment Advisors Inc. now owns 27,410 shares of the company's stock valued at $9,238,000 after purchasing an additional 164 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Snap-On by 5.2% during the first quarter. Oppenheimer & Co. Inc. now owns 19,556 shares of the company's stock valued at $6,591,000 after purchasing an additional 966 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Snap-On by 1.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 12,617 shares of the company's stock valued at $4,252,000 after purchasing an additional 200 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent research reports. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Monday, May 19th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Robert W. Baird reduced their target price on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Tigress Financial boosted their target price on Snap-On from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One equities research 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-On Stock Up 0.1%

Shares of SNA opened at $308.75 on Wednesday. The company has a market capitalization of $16.14 billion, a P/E ratio of 16.16, a PEG ratio of 2.20 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. Snap-On Incorporated has a one year low of $252.98 and a one year high of $373.90. The business's 50 day simple moving average is $316.23 and its 200-day simple moving average is $331.29.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data 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). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $4.91 EPS. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Tuesday, May 20th. Snap-On's dividend payout ratio (DPR) is currently 44.82%.

Insider Activity

In related news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now owns 8,030 shares in the company, valued at $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer now owns 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,515 shares of company stock valued at $17,094,296 in the last 90 days. 3.90% of the stock is owned by company insiders.

Snap-On 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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