Kestra Private Wealth Services LLC Has $2.48 Million Stake in Snap-On Incorporated $SNA

Kestra Private Wealth Services LLC grew its position in Snap-On Incorporated (NYSE:SNA) by 34.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,840 shares of the company’s stock after purchasing an additional 1,752 shares during the period. Kestra Private Wealth Services LLC’s holdings in Snap-On were worth $2,484,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP grew its stake in shares of Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after acquiring an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after purchasing an additional 233 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis lifted its position in shares of Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after purchasing an additional 1,761 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total value of $504,429.10. Following the sale, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Thomas Miller sold 427 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $389.55, for a total value of $166,337.85. Following the completion of the sale, the vice president owned 4,527 shares in the company, valued at $1,763,492.85. This represents a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,117 shares of company stock valued at $13,192,082 in the last 90 days. 3.80% of the stock is owned by company insiders.

Snap-On Trading Up 0.1%

NYSE SNA opened at $397.52 on Monday. The company has a market cap of $20.59 billion, a PE ratio of 20.52, a PEG ratio of 2.79 and a beta of 0.73. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $307.47 and a 12 month high of $403.35. The stock has a 50 day moving average of $378.13 and a 200-day moving average of $370.69.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $4.51 earnings per share. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its board has authorized a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s payout ratio is currently 50.39%.

Wall Street Analyst Weigh In

SNA has been the subject of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and an average target price of $387.67.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.