Stratos Wealth Partners LTD. Purchases 1,450 Shares of Snap-On Incorporated $SNA

Key Points

• Stratos Wealth Partners LTD. increased its stake in Snap-On, acquiring an additional 1,450 shares, bringing its total ownership to 31,992 shares valued at approximately $9.96 million.
• Institutional investors own 84.88% of Snap-On's stock, highlighting significant market confidence in the company.
• Analysts have set a new consensus price target of $363.57 for Snap-On, with several firms projecting upside potential based on recent performance and ratings.

Stratos Wealth Partners LTD. grew its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,992 shares of the company's stock after acquiring an additional 1,450 shares during the quarter. Stratos Wealth Partners LTD. owned about 0.06% of Snap-On worth $9,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snap-On during the second quarter valued at approximately $434,938,000. Auto Owners Insurance Co grew its holdings in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after buying an additional 1,070,025 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company's stock worth $229,793,000 after buying an additional 239,908 shares in the last quarter. Nuveen LLC bought a new stake in Snap-On during the first quarter worth $45,711,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after buying an additional 115,306 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SNA shares. Robert W. Baird upped their price target on Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a report on Friday. Roth Capital reiterated a "buy" rating and set a $385.00 price target on shares of Snap-On in a report on Friday. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Bank of America upped their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of "Moderate Buy" and an average price target of $363.57.

Snap-On Stock Performance

Shares of SNA opened at $339.61 on Friday. The stock's 50-day simple moving average is $332.77 and its 200 day simple moving average is $323.84. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.42 and a current ratio of 4.40. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.70 EPS. Research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's dividend payout ratio is 44.89%.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the transaction, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last three months. 3.90% of the stock is currently owned by insiders.

Snap-On 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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