Good Life Advisors LLC Increases Position in Snap-on Incorporated (NYSE:SNA)

Good Life Advisors LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,196 shares of the company’s stock after acquiring an additional 35 shares during the period. Good Life Advisors LLC’s holdings in Snap-on were worth $406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Creative Planning raised its stake in shares of Snap-on by 4.7% during the 3rd quarter. Creative Planning now owns 9,909 shares of the company’s stock worth $2,871,000 after purchasing an additional 446 shares during the period. Allspring Global Investments Holdings LLC grew its position in Snap-on by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company’s stock valued at $2,746,000 after buying an additional 5,212 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Snap-on during the third quarter worth about $218,000. Eastern Bank bought a new stake in Snap-on in the third quarter worth about $652,000. Finally, Waldron Private Wealth LLC purchased a new position in Snap-on in the third quarter valued at about $207,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNA has been the subject of several research analyst reports. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average price target of $345.40.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,643 shares of company stock valued at $13,580,191. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $338.50 on Friday. The firm has a market cap of $17.73 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $344.18 and its 200-day moving average is $322.76. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share 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 period last year, the business posted $4.75 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.53%. Snap-on’s payout ratio is 43.90%.

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.