Laurel Wealth Advisors LLC Has $256,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Laurel Wealth Advisors LLC reduced its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 15.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 887 shares of the company’s stock after selling 163 shares during the period. Laurel Wealth Advisors LLC’s holdings in Snap-on were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SNA. Norges Bank acquired a new position in shares of Snap-on during the fourth quarter valued at about $145,665,000. Nordea Investment Management AB lifted its position in shares of Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Snap-on by 25.1% during the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Snap-on by 1,416.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after purchasing an additional 137,920 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Snap-on by 229.8% during the third quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after purchasing an additional 107,582 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNA has been the topic of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Robert W. Baird dropped their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 price target 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.75.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated 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 transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the transaction, the senior vice president now owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were 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 of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock worth $14,089,523 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

SNA stock traded up $0.54 during mid-day trading on Friday, hitting $270.70. The company had a trading volume of 237,139 shares, compared to its average volume of 318,346. The firm has a market cap of $14.27 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a 12 month low of $247.68 and a 12 month high of $298.49. The stock’s fifty day moving average price is $284.28 and its two-hundred day moving average price is $278.86.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.60 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. Snap-on’s payout ratio is 39.03%.

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.