Ritholtz Wealth Management Has $401,000 Holdings in Snap-On Incorporated $SNA

Ritholtz Wealth Management boosted its stake in Snap-On Incorporated (NYSE:SNA) by 16.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,288 shares of the company’s stock after purchasing an additional 180 shares during the period. Ritholtz Wealth Management’s holdings in Snap-On were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the first quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in Snap-On in the second quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its position in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its position in Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares during the period. Finally, Ransom Advisory Ltd bought a new position in Snap-On during the 1st quarter worth approximately $34,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial lifted their price objective on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Finally, Robert W. Baird raised their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.57.

Snap-On Price Performance

Shares of NYSE SNA opened at $340.76 on Tuesday. The firm has a market capitalization of $17.72 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.36 and a beta of 0.78. The firm’s 50-day moving average price is $333.16 and its 200-day moving average price is $323.86. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $4.70 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 44.89%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by insiders.

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.