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

HighTower Advisors LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,226 shares of the company’s stock after acquiring an additional 1,006 shares during the quarter. HighTower Advisors LLC owned approximately 0.09% of Snap-on worth $16,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Inspire Advisors LLC lifted its holdings in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after buying an additional 34 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Snap-on by 7.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,943 shares of the company’s stock worth $2,357,000 after buying an additional 490 shares during the period. Isthmus Partners LLC lifted its holdings in Snap-on by 4.7% in the 4th quarter. Isthmus Partners LLC now owns 1,213 shares of the company’s stock worth $412,000 after buying an additional 54 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Snap-on by 151.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,492 shares of the company’s stock worth $22,573,000 after buying an additional 40,045 shares during the period. Finally, Personal CFO Solutions LLC purchased a new stake in Snap-on in the 4th quarter worth approximately $245,000. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNA shares. Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $346.40.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,220 shares of company stock valued at $6,906,802 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Trading Up 2.4 %

SNA opened at $331.93 on Friday. The stock has a market cap of $17.39 billion, a PE 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. The business has a 50 day moving average of $341.51 and a 200-day moving average of $329.73. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $4.75 earnings per share. Equities research analysts predict 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. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

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.