Sequoia Financial Advisors LLC Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Sequoia Financial Advisors LLC raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 835 shares of the company’s stock after buying an additional 66 shares during the period. Sequoia Financial Advisors LLC’s holdings in Snap-on were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SNA. UMB Bank n.a. increased its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Snap-on during the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on during the 4th quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in Snap-on during the third quarter worth $39,000. Finally, Private Trust Co. NA raised its position in shares of Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after buying an additional 60 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SNA. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $346.40.

Snap-on Trading Up 1.1 %

Shares of NYSE SNA opened at $332.98 on Thursday. The business has a fifty day simple moving average of $341.20 and a 200-day simple moving average of $330.75. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.21 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. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the company posted $4.75 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.57%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

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.