Snap-on Incorporated (NYSE:SNA) Holdings Raised by MCF Advisors LLC

MCF Advisors LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 913 shares of the company’s stock after purchasing an additional 70 shares during the quarter. MCF Advisors LLC’s holdings in Snap-on were worth $239,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in shares of Snap-on in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on in the second quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in shares of Snap-on during the second quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new position in shares of Snap-on during the first quarter valued at approximately $56,000. Finally, Versant Capital Management Inc raised its position in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last three months, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 2.5 %

SNA stock opened at $272.09 on Friday. The firm’s 50-day moving average is $272.97 and its two-hundred day moving average is $276.23. 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 has a market capitalization of $14.33 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $4.89 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts forecast that Snap-on Incorporated will post 18.95 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, September 10th. Shareholders of record on Monday, August 19th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

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

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.