Stratos Wealth Partners LTD. Buys 1,395 Shares of Snap-On Incorporated (NYSE:SNA)

Stratos Wealth Partners LTD. boosted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,542 shares of the company's stock after buying an additional 1,395 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.06% of Snap-On worth $10,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. SBI Securities Co. Ltd. bought a new position in shares of Snap-On during the 4th quarter valued at $26,000. Keybank National Association OH raised its holdings in shares of Snap-On by 3.4% during the 4th quarter. Keybank National Association OH now owns 1,480 shares of the company's stock valued at $502,000 after purchasing an additional 49 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Snap-On during the 4th quarter valued at $57,738,000. Larson Financial Group LLC raised its holdings in shares of Snap-On by 18.0% during the 4th quarter. Larson Financial Group LLC now owns 1,632 shares of the company's stock valued at $554,000 after purchasing an additional 249 shares in the last quarter. Finally, Amundi raised its holdings in shares of Snap-On by 137.0% during the 4th quarter. Amundi now owns 201,207 shares of the company's stock valued at $68,039,000 after purchasing an additional 116,319 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNA has been the topic of a number of research analyst reports. Robert W. Baird lowered their target price 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. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. 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 research note on Monday, March 31st. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $350.83.

Snap-On Price Performance

Shares of NYSE:SNA traded down $3.05 during midday trading on Friday, reaching $317.65. 260,950 shares of the company's stock were exchanged, compared to its average volume of 367,495. Snap-On Incorporated has a 12 month low of $266.55 and a 12 month high of $373.90. The firm has a market capitalization of $16.61 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76. The company's 50 day simple moving average is $317.94 and its two-hundred day simple moving average is $328.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the prior year, the company posted $4.91 earnings per share. Equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid 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 is 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.