CWA Asset Management Group LLC Acquires 1,320 Shares of Snap-On Incorporated (NYSE:SNA)

CWA Asset Management Group LLC grew its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,601 shares of the company's stock after acquiring an additional 1,320 shares during the period. CWA Asset Management Group LLC's holdings in Snap-On were worth $2,225,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Snap-On in the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Snap-On during the first quarter valued at approximately $35,000. CoreFirst Bank & Trust bought a new stake in Snap-On during the 4th quarter worth approximately $40,000. TCTC Holdings LLC lifted its stake in Snap-On by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new position in Snap-On in the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Monday, May 19th. Finally, Tigress Financial lifted their target price 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. 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-On Price Performance

Shares of NYSE SNA traded down $0.52 during trading hours on Thursday, reaching $306.76. 393,747 shares of the stock traded hands, compared to its average volume of 368,203. The company's 50-day simple moving average is $318.30 and its two-hundred day simple moving average is $333.04. The company has a market capitalization of $16.04 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78. Snap-On Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 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 business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business posted $4.91 earnings per share. Equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.79%. The ex-dividend date was Tuesday, May 20th. Snap-On's dividend payout ratio is presently 44.82%.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm'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 in the company, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction that occurred on Thursday, May 15th. The stock was 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 $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,515 shares of company stock worth $17,094,296 over the last three months. Company insiders own 3.90% of the company's stock.

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.