Snap-On Incorporated $SNA Position Increased by Ibex Wealth Advisors

Ibex Wealth Advisors lifted its position in Snap-On Incorporated (NYSE:SNA) by 162.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,202 shares of the company’s stock after acquiring an additional 1,362 shares during the period. Ibex Wealth Advisors’ holdings in Snap-On were worth $763,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 purchasing an additional 1,185 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of 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. Bessemer Group Inc. boosted its position in shares of Snap-On by 7.1% in the second quarter. Bessemer Group Inc. now owns 633 shares of the company’s stock worth $197,000 after buying an additional 42 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Snap-On by 1.5% during the second quarter. New York Life Investment Management LLC now owns 7,146 shares of the company’s stock valued at $2,224,000 after buying an additional 104 shares in the last quarter. Finally, World Investment Advisors raised its position in Snap-On by 170.5% during the second quarter. World Investment Advisors now owns 2,564 shares of the company’s stock valued at $798,000 after buying an additional 1,616 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares in the company, valued at $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares in the company, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,855 shares of company stock worth $27,629,827 in the last 90 days. Insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

SNA stock opened at $384.95 on Friday. The firm has a 50 day moving average of $367.79 and a two-hundred day moving average of $347.90. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.66 and a beta of 0.81. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. Snap-On’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.82 EPS. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNA. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday. Roth Mkm restated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Robert W. Baird set a $375.00 price objective on shares of Snap-On in a research report on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $377.33.

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.