Atria Wealth Solutions Inc. Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

Atria Wealth Solutions Inc. grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 29.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,555 shares of the company’s stock after buying an additional 802 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Snap-on were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. Scarborough Advisors LLC purchased a new stake in shares of Snap-on in the fourth quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on during the second quarter valued at approximately $30,000. Versant Capital Management Inc grew its holdings in Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in Snap-on in the 4th quarter worth approximately $55,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Snap-on during the 1st quarter worth approximately $56,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNA. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird decreased their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,272 shares of company stock valued at $16,438,942. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Up 2.2 %

NYSE:SNA opened at $283.84 on Friday. The company has a market cap of $14.96 billion, a PE ratio of 14.89, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $270.34 and its two-hundred day moving average is $275.56. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $4.89 earnings per share. Snap-on’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.86 per share. The ex-dividend date is Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.62%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Snap-on 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.