Peak Financial Advisors LLC Takes $2.43 Million Position in Snap-On Incorporated $SNA

Key Points

• Peak Financial Advisors LLC acquired a new position in Snap-On Incorporated, purchasing 7,822 shares valued at approximately $2.43 million in the second quarter.
• Several other institutional investors have also increased their stakes, with institutional ownership currently at 84.88% of the company's stock.
• Snap-On reported Q2 earnings per share of $4.72, exceeding analysts' expectations, and declared a quarterly dividend of $2.14 per share.

Peak Financial Advisors LLC acquired a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,822 shares of the company's stock, valued at approximately $2,434,000.

Other institutional investors have also recently made changes to their positions in the company. Forvis Mazars Wealth Advisors LLC lifted its position in Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock worth $1,553,000 after acquiring an additional 32 shares during the period. Horizon Investments LLC increased its stake in Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock worth $261,000 after buying an additional 32 shares in the last quarter. TrinityPoint Wealth LLC increased its stake in Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock worth $1,414,000 after buying an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after buying an additional 34 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida boosted its holdings in shares of Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock worth $241,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the transaction, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock valued at $8,983,203 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Up 0.5%

Shares of Snap-On stock opened at $333.70 on Friday. Snap-On Incorporated has a 12-month low of $278.75 and a 12-month high of $373.89. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The stock has a market cap of $17.41 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The company has a 50-day moving average of $324.94 and a two-hundred day moving average of $322.84.

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

Snap-On Dividend Announcement

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

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.

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