HighTower Advisors LLC Acquires 1,006 Shares of Snap-on Incorporated (NYSE:SNA)

HighTower Advisors LLC grew its holdings in Snap-on Incorporated (NYSE:SNA) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 49,226 shares of the company’s stock after buying an additional 1,006 shares during the quarter. HighTower Advisors LLC’s holdings in Snap-on were worth $16,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SNA. Victory Capital Management Inc. grew its holdings in shares of Snap-on by 21.5% in the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after acquiring an additional 28,049 shares during the period. KBC Group NV grew its holdings in shares of Snap-on by 1.8% in the third quarter. KBC Group NV now owns 15,437 shares of the company’s stock worth $4,472,000 after acquiring an additional 271 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Snap-on by 24.8% in the third quarter. Zions Bancorporation N.A. now owns 1,167 shares of the company’s stock worth $338,000 after acquiring an additional 232 shares during the period. Metis Global Partners LLC grew its holdings in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after acquiring an additional 32 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Snap-on by 7.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,333 shares of the company’s stock worth $386,000 after acquiring an additional 98 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by insiders.

Snap-on Price Performance

Shares of Snap-on stock opened at $331.93 on Friday. The stock’s 50-day simple moving average is $341.51 and its 200-day simple moving average is $329.73. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 17.02, a PEG 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 (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.58%. Snap-on’s payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $346.40.

About Snap-on

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.