HighPoint Advisor Group LLC Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

by · The Markets Daily

HighPoint Advisor Group LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA – Free Report) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 909 shares of the company’s stock after purchasing an additional 128 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Snap-on were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNA. Greenleaf Trust increased its holdings in Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. grew its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. WCM Investment Management LLC increased its stake in shares of Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares during the period. Finally, Inspire Advisors LLC lifted its position in Snap-on by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock valued at $1,148,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of a number of analyst reports. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $355.33.

Read Our Latest Stock Report on SNA

Snap-on Stock Performance

NYSE:SNA opened at $327.51 on Friday. The stock has a 50-day moving average price of $338.95 and a 200 day moving average price of $334.75. The stock has a market capitalization of $17.17 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA – Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company posted $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.61%. Snap-on’s dividend payout ratio is currently 43.90%.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Company Profile

(Free Report)

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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