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

Stratos Wealth Partners LTD. raised its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the 1st quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Snap-On during the fourth quarter valued at about $26,000. Golden State Wealth Management LLC grew its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On during the first quarter valued at about $35,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Snap-On during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Performance

NYSE:SNA traded down $0.06 during trading on Tuesday, reaching $317.10. The company's stock had a trading volume of 288,236 shares, compared to its average volume of 368,370. Snap-On Incorporated has a 12 month low of $255.26 and a 12 month high of $373.90. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. The firm has a 50 day moving average of $317.53 and a 200-day moving average of $328.98. 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 posted its quarterly earnings results 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. During the same quarter in the previous year, the company posted $4.91 EPS. Research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's payout ratio is 44.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNA. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Robert W. Baird reduced their price objective on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a report 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. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Snap-On has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were 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 owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock worth $9,482,532 over the last three months. 3.90% of the stock is currently owned by insiders.

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.