Rehmann Capital Advisory Group Takes $238,000 Position in Snap-on Incorporated (NYSE:SNA)

Rehmann Capital Advisory Group acquired a new stake in Snap-on Incorporated (NYSE:SNA – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,042 shares of the company’s stock, valued at approximately $238,000.

Several other large investors have also made changes to their positions in the business. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Snap-on in the 4th quarter valued at $611,000. HRT Financial LP purchased a new stake in Snap-on during the fourth quarter worth $5,620,000. SouthState Corp boosted its holdings in Snap-on by 7.2% during the fourth quarter. SouthState Corp now owns 16,768 shares of the company’s stock worth $3,831,000 after buying an additional 1,126 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in Snap-on during the fourth quarter worth $127,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Snap-on by 4.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 101,255 shares of the company’s stock worth $23,182,000 after buying an additional 4,563 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

Shares of NYSE SNA opened at $255.76 on Friday. The firm has a 50-day simple moving average of $248.45 and a 200-day simple moving average of $243.23. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. The company has a quick ratio of 2.43, a current ratio of 3.48 and a debt-to-equity ratio of 0.26. Snap-on Incorporated has a 52 week low of $190.08 and a 52 week high of $265.02.

Snap-on (NYSE:SNA – Get Rating) last issued its earnings results on Thursday, April 20th. The company reported $4.60 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.46. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Snap-on had a net margin of 20.60% and a return on equity of 21.17%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.00 earnings per share. On average, equities analysts predict that Snap-on Incorporated will post 17.74 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, May 18th. Snap-on’s dividend payout ratio (DPR) is 37.18%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Snap-on from $230.00 to $240.00 and gave the stock an “underperform” rating in a report on Friday, April 21st. MKM Partners increased their price target on shares of Snap-on from $238.00 to $259.00 in a report on Friday, February 3rd. Barrington Research reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Snap-on in a report on Monday, April 17th. Longbow Research raised shares of Snap-on from an “underperform” rating to a “neutral” rating in a report on Friday, April 21st. Finally, Tigress Financial reaffirmed a “buy” rating and set a $302.00 price objective (up from $298.00) on shares of Snap-on in a report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $260.57.

Insider Activity

In other news, Director Karen L. Daniel sold 2,046 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $245.38, for a total value of $502,047.48. Following the completion of the sale, the director now directly owns 8,028 shares in the company, valued at $1,969,910.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Richard Thomas Miller sold 300 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total transaction of $78,915.00. Following the completion of the sale, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen L. Daniel sold 2,046 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $245.38, for a total transaction of $502,047.48. Following the sale, the director now owns 8,028 shares of the company’s stock, valued at $1,969,910.64. The disclosure for this sale can be found here. Insiders sold 56,884 shares of company stock worth $14,194,715 over the last three months. Insiders own 4.20% of the company’s stock.

Snap-on Profile

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.