Snap-On Incorporated $SNA Stake Lifted by Ibex Wealth Advisors

Ibex Wealth Advisors raised its stake in Snap-On Incorporated (NYSE:SNA) by 162.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,202 shares of the company’s stock after buying an additional 1,362 shares during the quarter. Ibex Wealth Advisors’ holdings in Snap-On were worth $763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the period. State Street Corp grew its position in Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after purchasing an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after purchasing an additional 36,421 shares during the period. First Trust Advisors LP raised its holdings in shares of Snap-On by 40.7% during the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after buying an additional 547,527 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Snap-On by 3.0% during the third quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after buying an additional 36,964 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNA shares. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Roth Mkm reissued 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 note on Friday, February 6th. Finally, Tigress Financial increased their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Transactions at Snap-On

In related news, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the transaction, the senior vice president directly owned 19,480 shares in the company, valued at $7,502,332.40. The trade was a 29.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,855 shares of company stock valued at $27,629,827 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

NYSE:SNA opened at $384.95 on Friday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $367.79 and its 200 day moving average price is $347.90. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The firm has a market cap of $19.98 billion, a P/E ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.81.

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

Snap-On Announces Dividend

The firm 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 is Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is 50.86%.

Snap-On Company 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.