Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $2.09 Million Stock Holdings in Snap-On Incorporated $SNA

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Snap-On Incorporated (NYSE:SNA) by 50.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,744 shares of the company’s stock after acquiring an additional 1,921 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Snap-On were worth $2,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP boosted its holdings 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 buying an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after buying an additional 434 shares during the period. Finally, Natixis grew its position in shares of Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after buying an additional 1,761 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE SNA opened at $404.86 on Wednesday. The stock has a fifty day simple moving average of $383.85 and a two-hundred day simple moving average of $375.41. Snap-On Incorporated has a 1-year low of $310.23 and a 1-year high of $414.62. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.82 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 (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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $4.51 EPS. Snap-On’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On declared that its board has initiated a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 37,117 shares of company stock worth $14,003,922. 3.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays started coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

Snap-On Profile

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.