Cottage Street Advisors LLC Has $3.38 Million Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Cottage Street Advisors LLC lifted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 111.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,028 shares of the company's stock after purchasing an additional 5,284 shares during the quarter. Snap-On comprises 1.6% of Cottage Street Advisors LLC's holdings, making the stock its 18th biggest position. Cottage Street Advisors LLC's holdings in Snap-On were worth $3,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Snap-On in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On in the 1st quarter valued at approximately $35,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-On in the 4th quarter valued at approximately $40,000. TCTC Holdings LLC boosted its position in Snap-On by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Finally, ORG Partners LLC boosted its position in Snap-On by 150.8% during the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after acquiring an additional 95 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Down 0.4%

NYSE SNA opened at $305.61 on Friday. The company has a market cap of $15.98 billion, a PE ratio of 16.00, a PEG ratio of 2.19 and a beta of 0.78. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock has a 50 day moving average of $317.36 and a 200-day moving average of $332.22.

Snap-On (NYSE:SNA - Get Free Report) last released 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. During the same period in the previous year, the company posted $4.91 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's payout ratio is presently 44.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Tigress Financial upped their price target on Snap-On from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Robert W. Baird reduced their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Monday, May 19th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-On has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Activity at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director now owns 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,515 shares of company stock worth $17,094,296. Company insiders own 3.90% of the company's stock.

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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