Snap-On Incorporated $SNA Shares Purchased by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,942 shares of the company’s stock after buying an additional 1,571 shares during the period. Sigma Investment Counselors Inc.’s holdings in Snap-On were worth $6,156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Western Wealth Management LLC bought a new position in Snap-On in the first quarter worth about $29,000. Independence Bank of Kentucky bought a new stake in Snap-On during the 3rd quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. bought a new stake in Snap-On during the 2nd quarter valued at approximately $45,000. Elevation Wealth Partners LLC boosted its position in Snap-On by 773.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 131 shares of the company’s stock valued at $53,000 after acquiring an additional 116 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Snap-On during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $357.40 on Wednesday. The business’s 50 day moving average price is $373.89 and its 200-day moving average price is $380.21. Snap-On Incorporated has a 52 week low of $320.80 and a 52 week high of $423.02.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 earnings per share. On average, analysts forecast that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Thursday, October 15th. Roth Capital restated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Barclays dropped their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday. Tigress Financial upped their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $385.00 price objective on Snap-On in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $434.00.

Insider Activity

In other news, CEO Nicholas Pinchuk sold 22,889 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of Snap-On stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This represents a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,220 shares of company stock worth $11,704,411 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.