CapWealth Advisors LLC Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

CapWealth Advisors LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 44,513 shares of the company’s stock after purchasing an additional 1,201 shares during the quarter. Snap-on accounts for approximately 1.6% of CapWealth Advisors LLC’s investment portfolio, making the stock its 26th largest holding. CapWealth Advisors LLC’s holdings in Snap-on were worth $12,857,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clear Street Markets LLC lifted its position in Snap-on by 96.3% during the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust grew its holdings in Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares during the period. BKM Wealth Management LLC purchased a new stake in Snap-on in the fourth quarter valued at approximately $33,000. Peoples Bank KS purchased a new position in Snap-on during the third quarter worth approximately $40,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Snap-on in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, 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. Over the last quarter, insiders sold 47,368 shares of company stock worth $13,399,449. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Snap-on presently has an average rating of “Hold” and a consensus target price of $306.00.

Snap-on Stock Down 5.9 %

NYSE SNA traded down $16.64 on Thursday, reaching $266.86. The company had a trading volume of 481,286 shares, compared to its average volume of 307,123. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. Snap-on Incorporated has a 1 year low of $239.08 and a 1 year high of $298.49. The firm has a 50-day moving average of $283.74 and a 200-day moving average of $278.27. The firm has a market capitalization of $14.10 billion, a PE ratio of 14.28, a P/E/G ratio of 2.02 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. Snap-on’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.42 earnings per share. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.22 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.79%. Snap-on’s dividend payout ratio is currently 39.68%.

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.