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

Stratos Wealth Partners LTD. increased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,542 shares of the company's stock after purchasing an additional 1,395 shares during the period. Stratos Wealth Partners LTD. owned 0.06% of Snap-On worth $10,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Snap-On during the first quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Snap-On during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC raised its holdings in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On during the first quarter worth approximately $35,000. Finally, CoreFirst Bank & Trust bought a new stake in Snap-On during the fourth quarter worth approximately $40,000. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Up 0.8%

Shares of NYSE SNA traded up $2.57 during mid-day trading on Thursday, reaching $320.69. The company had a trading volume of 204,925 shares, compared to its average volume of 367,843. The stock has a market capitalization of $16.77 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76. Snap-On Incorporated has a twelve month low of $256.54 and a twelve month high of $373.90. The stock's 50 day moving average is $317.75 and its 200-day moving average is $328.83. 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 (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $4.91 earnings per share. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Tuesday, May 20th. Snap-On's dividend payout ratio (DPR) is 44.82%.

Insider Buying and Selling at Snap-On

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird dropped their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Barrington Research reissued an "outperform" rating and set 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 given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $350.83.

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.