Stratos Wealth Partners LTD. Grows Holdings in Snap-On Incorporated (NYSE:SNA)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Beverly Hills Private Wealth LLC raised its position in Snap-On by 3.9% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 1,475 shares of the company's stock valued at $497,000 after purchasing an additional 56 shares during the last quarter. TD Private Client Wealth LLC raised its position in Snap-On by 4.3% in the 1st quarter. TD Private Client Wealth LLC now owns 11,390 shares of the company's stock valued at $3,839,000 after purchasing an additional 472 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Snap-On by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company's stock valued at $261,023,000 after buying an additional 15,097 shares during the period. HM Payson & Co. increased its stake in Snap-On by 79.2% in the 1st quarter. HM Payson & Co. now owns 550 shares of the company's stock valued at $185,000 after buying an additional 243 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Snap-On by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 361,809 shares of the company's stock valued at $121,933,000 after buying an additional 7,742 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Monday, May 19th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird dropped 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. Finally, Longbow Research raised shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Snap-On presently has an average rating of "Moderate Buy" and an average target price of $350.83.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,815 shares of company stock valued at $9,482,532. Insiders own 3.90% of the company's stock.

Snap-On Price Performance

Shares of NYSE:SNA traded up $0.99 on Wednesday, reaching $318.07. 226,818 shares of the company were exchanged, compared to its average volume of 368,241. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1-year low of $256.54 and a 1-year high of $373.90. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76. The company has a 50-day moving average of $317.75 and a 200-day moving average of $328.83.

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 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $4.91 earnings per share. Equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.69%. Snap-On's 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.