Nisa Investment Advisors LLC Acquires 4,476 Shares of Snap-On Incorporated (NYSE:SNA)

Nisa Investment Advisors LLC lifted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,263 shares of the company's stock after buying an additional 4,476 shares during the period. Nisa Investment Advisors LLC's holdings in Snap-On were worth $4,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the first quarter worth $25,000. Golden State Wealth Management LLC boosted 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 worth $33,000 after buying an additional 80 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On in the first quarter worth $35,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-On in the fourth quarter worth $40,000. Finally, TCTC Holdings LLC boosted its position in shares of Snap-On by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Down 1.0%

NYSE SNA traded down $3.05 during trading on Friday, hitting $317.65. 260,950 shares of the company traded hands, compared to its average volume of 367,757. Snap-On Incorporated has a 12 month low of $266.55 and a 12 month high of $373.90. The business has a fifty day simple moving average of $317.94 and a 200 day simple moving average of $328.35. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.61 billion, a P/E ratio of 16.63, a PEG ratio of 2.27 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business earned $4.91 earnings per share. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.69%. Snap-On's dividend payout ratio (DPR) is currently 44.82%.

Analysts Set New Price Targets

Several analysts recently issued reports on SNA shares. Robert W. Baird cut their price objective on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a report on Monday, May 19th. Finally, Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Buying and Selling at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock worth $9,482,532 over the last three months. Corporate insiders own 3.90% of the company's stock.

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.