Farther Finance Advisors LLC Buys 969 Shares of Snap-On Incorporated $SNA

Key Points

• Farther Finance Advisors LLC increased its stake in Snap-On Incorporated by 51.1%, acquiring 969 additional shares, bringing their total holdings to 2,867 shares valued at approximately $892,000.
• Snap-On reported an EPS of $4.72 for the latest quarter, exceeding analysts' expectations of $4.61, while also achieving revenue of $1.18 billion.
• The company's quarterly dividend of $2.14 per share represents a 2.5% dividend yield and reflects a payout ratio of 45.65%.

Farther Finance Advisors LLC increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 51.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,867 shares of the company's stock after buying an additional 969 shares during the quarter. Farther Finance Advisors LLC's holdings in Snap-On were worth $892,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Snap-On in the 1st quarter valued at $25,000. Golden State Wealth Management LLC raised its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Ransom Advisory Ltd bought a new position in Snap-On in the 1st quarter valued at $34,000. Cullen Frost Bankers Inc. raised its position 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 purchasing an additional 72 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Snap-On in the 1st quarter valued at $35,000. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Down 0.8%

Shares of Snap-On stock opened at $336.68 on Friday. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $284.38 and a 12 month high of $373.89. The business has a fifty day simple moving average of $328.18 and a 200 day simple moving average of $323.00. The stock has a market cap of $17.56 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77.

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

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On's payout ratio is 45.65%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Tigress Financial lifted their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday. Robert W. Baird lifted their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Bank of America lifted their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Four investment 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. According to data from MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and an average price target of $357.00.

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by 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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