Raymond James & Associates Acquires 11,312 Shares of Snap-on Incorporated (NYSE:SNA)

Raymond James & Associates boosted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,472 shares of the company's stock after buying an additional 11,312 shares during the quarter. Raymond James & Associates owned approximately 0.70% of Snap-on worth $108,556,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in Snap-on in the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new position in Snap-on during the 4th quarter worth approximately $33,000. Peoples Bank KS bought a new position in Snap-on during the 3rd quarter worth approximately $40,000. Exchange Traded Concepts LLC bought a new position in Snap-on during the 4th quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. bought a new position in Snap-on during the 3rd quarter worth approximately $49,000. Institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 0.1 %

Shares of SNA stock traded down $0.22 during trading hours on Wednesday, hitting $267.74. 358,756 shares of the company were exchanged, compared to its average volume of 313,909. The firm has a market cap of $14.12 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.88 and a beta of 0.99. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The company has a 50 day simple moving average of $284.36 and a two-hundred day simple moving average of $279.21.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $4.60 EPS. Snap-on's revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, May 17th. Snap-on's payout ratio is currently 39.03%.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company's stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,930 shares of company stock valued at $14,089,523. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on SNA shares. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a report on Friday, April 19th. Tigress Financial restated a "buy" rating and set a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Barrington Research reaffirmed an "outperform" rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $316.75.

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.

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