Opal Wealth Advisors LLC acquired a new position in Snap-on Incorporated (NYSE:SNA – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 104 shares of the company’s stock, valued at approximately $35,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in Snap-on in the 1st quarter worth about $2,629,000. Wealth Enhancement Advisory Services LLC grew its position in Snap-on by 6.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company’s stock worth $15,949,000 after purchasing an additional 2,790 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Snap-on by 7.1% in the 1st quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $335,000 after purchasing an additional 66 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Snap-on by 3.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,997 shares of the company’s stock valued at $673,000 after acquiring an additional 71 shares during the last quarter. Finally, Rockland Trust Co. boosted its stake in Snap-on by 3.1% in the first quarter. Rockland Trust Co. now owns 3,286 shares of the company’s stock valued at $1,107,000 after acquiring an additional 100 shares during the last quarter. 84.88% of the stock is owned by institutional investors.
Snap-on Stock Performance
Shares of SNA stock opened at $312.11 on Tuesday. The stock has a market capitalization of $16.32 billion, a P/E ratio of 16.01, a PEG ratio of 2.21 and a beta of 0.78. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $319.21 and its 200 day moving average is $333.40. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.
Snap-on Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.
Analyst Ratings Changes
A number of research analysts have weighed in on SNA shares. 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, March 31st. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird dropped their target price on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $350.83.
Read Our Latest Stock Report on SNA
Insider Buying and Selling
In related news, CFO Aldo John Pagliari sold 5,553 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction 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 represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director now directly owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,515 shares of company stock valued at $17,094,296. Company insiders own 3.90% of the company’s stock.
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.
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