Sequoia Financial Advisors LLC Acquires 801 Shares of Snap-On Incorporated $SNA

Key Points

• Sequoia Financial Advisors LLC increased its ownership in Snap-On Incorporated by 93.2% in the second quarter, acquiring 801 additional shares, resulting in a total of 1,660 shares valued at approximately $517,000.
• Insider transactions included CEO Nicholas T. Pinchuk selling 23,042 shares and CFO Aldo John Pagliari selling 125 shares, indicating a 2.75% and 0.11% decrease in their respective holdings.
• Snap-On recently announced a quarterly dividend of $2.14 per share, resulting in an annual dividend yield of 2.5% with a payout ratio of 44.89%.

Sequoia Financial Advisors LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 93.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,660 shares of the company's stock after acquiring an additional 801 shares during the period. Sequoia Financial Advisors LLC's holdings in Snap-On were worth $517,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap-On by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after acquiring an additional 115,306 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Snap-On during the 2nd quarter valued at about $434,938,000. Auto Owners Insurance Co lifted its holdings in Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. Northern Trust Corp lifted its holdings in Snap-On by 5.4% during the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company's stock valued at $283,668,000 after purchasing an additional 43,467 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Snap-On by 2.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company's stock valued at $261,023,000 after purchasing an additional 15,097 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred 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 sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Up 0.3%

Shares of NYSE SNA opened at $340.76 on Tuesday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a market cap of $17.72 billion, a PE ratio of 17.87, a P/E/G ratio of 2.36 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $333.16 and a two-hundred day moving average of $323.86.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $4.70 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On's payout ratio is currently 44.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNA. Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Roth Capital reissued a "buy" rating and set a $385.00 price target on shares of Snap-On in a report on Friday. Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $363.57.

About Snap-On

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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