HighTower Advisors LLC Has $16.35 Million Holdings in Snap-On Incorporated $SNA

HighTower Advisors LLC increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,175 shares of the company’s stock after purchasing an additional 1,460 shares during the quarter. HighTower Advisors LLC owned approximately 0.09% of Snap-On worth $16,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP grew its stake in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Snap-On by 146.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $78,000 after purchasing an additional 148 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Snap-On by 5.5% during the 2nd quarter. Brookstone Capital Management now owns 1,831 shares of the company’s stock worth $570,000 after purchasing an additional 96 shares in the last quarter. Finally, TFB Advisors LLC boosted its holdings in shares of Snap-On by 10.8% in the 2nd quarter. TFB Advisors LLC now owns 1,338 shares of the company’s stock valued at $416,000 after buying an additional 130 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president owned 4,158 shares in the company, valued at $1,448,106.66. This trade represents a 32.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. This represents a 59.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 55,079 shares of company stock worth $19,482,806. 3.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm reiterated a “buy” rating and set a $409.00 price target (up previously from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Robert W. Baird set a $375.00 price target on Snap-On in a research report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $370.67.

Snap-On Stock Performance

Shares of SNA stock opened at $383.49 on Friday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.65 and a beta of 0.81. The company has a 50-day simple moving average of $363.27 and a 200 day simple moving average of $345.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $4.82 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $2.44 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is 50.86%.

Snap-On Company 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.