Empowered Funds LLC Has $9.50 Million Holdings in Snap-On Incorporated $SNA

Key Points

• Empowered Funds LLC increased its stake in Snap-On Incorporated by 11.7%, acquiring 2,950 additional shares, bringing its total to 28,193 shares valued at approximately $9.5 million.
• Insider selling activity included CEO Nicholas T. Pinchuk selling 23,042 shares worth over $7.39 million, reducing his ownership by 2.75%.
• Despite recent stock dips, analysts have set price targets for Snap-On, with a consensus rating of "Moderate Buy" and an average target of $357.00.

Empowered Funds LLC increased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,193 shares of the company's stock after purchasing an additional 2,950 shares during the quarter. Empowered Funds LLC owned 0.05% of Snap-On worth $9,501,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Snap-On in the first quarter valued at approximately $25,000. Golden State Wealth Management LLC raised its position in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Snap-On in the 1st quarter valued at $35,000. Finally, ORG Partners LLC increased its holdings in shares of 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 buying an additional 95 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock worth $8,983,203. Company insiders own 3.90% of the company's stock.

Snap-On Trading Up 0.5%

NYSE SNA traded up $1.72 during trading hours on Friday, hitting $333.70. 414,001 shares of the company's stock were exchanged, compared to its average volume of 207,518. The business's 50 day moving average is $324.94 and its 200-day moving average is $322.95. Snap-On Incorporated has a 12-month low of $278.75 and a 12-month high of $373.89. The firm has a market capitalization of $17.41 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Analyst Ratings Changes

A number of equities analysts recently commented on SNA shares. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Bank of America boosted their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Tigress Financial lifted their price target on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $357.00.

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.