Snap-on Incorporated (NYSE:SNA) Stake Lifted by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,400 shares of the company’s stock after buying an additional 483 shares during the quarter. Park Avenue Securities LLC owned about 0.06% of Snap-on worth $10,582,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on in the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on during the fourth quarter valued at $28,000. CoreFirst Bank & Trust purchased a new stake in shares of Snap-on during the fourth quarter valued at $40,000. TCTC Holdings LLC lifted its holdings in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in shares of Snap-on during the fourth quarter valued at $61,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on SNA shares. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Robert W. Baird dropped their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, May 19th. Finally, Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.83.

Snap-on Stock Up 0.9%

SNA stock opened at $321.91 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $16.83 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.21 and a beta of 0.78. The business has a 50-day moving average of $319.41 and a 200-day moving average of $335.77. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the company earned $4.91 EPS. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio is currently 44.82%.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director now directly owns 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,515 shares of company stock valued at $17,094,296 over the last 90 days. 3.90% of the stock is owned by corporate 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.