Claro Advisors LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

Claro Advisors LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,372 shares of the company’s stock after acquiring an additional 193 shares during the quarter. Claro Advisors LLC’s holdings in Snap-on were worth $999,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in Snap-on in the first quarter valued at $173,451,000. Norges Bank bought a new position in shares of Snap-on during the 4th quarter valued at about $145,665,000. Nordea Investment Management AB raised its holdings in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after buying an additional 298,727 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Snap-on by 1,416.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after buying an additional 137,920 shares during the last quarter. Finally, FMR LLC lifted its position in Snap-on by 229.8% in the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after buying an additional 107,582 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock valued at $10,353,409 in the last 90 days. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of several research reports. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Wednesday, May 22nd. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Finally, Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Stock Down 1.7 %

Shares of Snap-on stock opened at $256.90 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company’s 50 day moving average price is $270.38 and its 200-day moving average price is $279.69. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.81 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 EPS. Equities research analysts forecast that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.90%. Snap-on’s dividend payout ratio is presently 39.03%.

Snap-on Company 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.