Parr Mcknight Wealth Management Group LLC Takes Position in Snap-on Incorporated (NYSE:SNA)

Parr Mcknight Wealth Management Group LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,930 shares of the company's stock, valued at approximately $1,674,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock valued at $2,174,233,000 after purchasing an additional 19,328 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after buying an additional 411,317 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock worth $613,195,000 after buying an additional 77,486 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after buying an additional 27,700 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Snap-on by 1.9% in the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after buying an additional 18,209 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $4.09 during trading on Wednesday, hitting $321.67. 76,630 shares of the company traded hands, compared to its average volume of 361,896. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $321.76 and its 200-day moving average is $337.90. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business posted $4.91 earnings per share. As a group, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, May 19th. Finally, Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

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.