Sowell Financial Services LLC Makes New $430,000 Investment in Snap-On Incorporated (NYSE:SNA)

Sowell Financial Services LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,275 shares of the company's stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Snap-On in the fourth quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On in the first quarter worth $35,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-On in the fourth quarter worth $40,000. TCTC Holdings LLC grew its stake 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 purchasing an additional 43 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Snap-On in the fourth quarter worth $61,000. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNA. Robert W. Baird reduced their price objective on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. 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. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Tigress Financial upped their target price on shares of Snap-On from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Longbow Research upgraded shares of 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Snap-On presently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were 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 directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,515 shares of company stock valued at $17,094,296 in the last three months. Company insiders own 3.90% of the company's stock.

Snap-On Stock Down 0.4%

Snap-On stock opened at $305.61 on Friday. Snap-On Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The firm has a 50 day moving average price of $317.36 and a 200-day moving average price of $332.22. The company has a market capitalization of $15.98 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.19 and a beta of 0.78. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company earned $4.91 earnings per share. As a group, equities 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. Stockholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

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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