New Age Alpha Advisors LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 92.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 492 shares of the company's stock after selling 6,339 shares during the quarter. New Age Alpha Advisors LLC's holdings in Snap-On were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On in the 4th quarter worth about $25,000. GoalVest Advisory LLC purchased a new position in shares of Snap-On in the 4th quarter worth about $28,000. Montag A & Associates Inc. boosted its holdings in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after buying an additional 73 shares during the last quarter. United Community Bank purchased a new position in shares of Snap-On in the 4th quarter worth about $43,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Snap-On in the 2nd quarter worth about $48,000. 84.88% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Aldo John Pagliari sold 5,713 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the sale, the chief financial officer directly owned 119,488 shares in the company, valued at $43,874,798.72. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares of the company's stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company's stock.
Snap-On Trading Down 0.7%
Shares of SNA opened at $371.75 on Friday. The business's 50-day moving average price is $371.30 and its 200-day moving average price is $364.00. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The stock has a market cap of $19.26 billion, a PE ratio of 19.19, a P/E/G ratio of 2.63 and a beta of 0.75. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.
Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $4.51 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.
Snap-On declared that its Board of Directors has approved a stock buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Snap-On Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's dividend payout ratio is currently 50.39%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on SNA shares. Roth Mkm reissued a "buy" rating and issued a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Barclays started coverage on shares of Snap-On in a report on Thursday. They issued an "overweight" rating and a $420.00 price target on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Finally, Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $387.67.
View Our Latest Research Report on SNA
About Snap-On
(
Free Report)
Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.
Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.
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