IFG Advisory LLC Has $5.79 Million Stake in Snap-on Incorporated (NYSE:SNA)

IFG Advisory LLC raised its holdings in Snap-on Incorporated (NYSE:SNA) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,026 shares of the company’s stock after acquiring an additional 4,794 shares during the period. IFG Advisory LLC’s holdings in Snap-on were worth $5,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clear Street Markets LLC boosted its position in shares of Snap-on by 96.3% during the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after buying an additional 47 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Snap-on during the fourth quarter worth about $33,000. Peoples Bank KS acquired a new position in shares of Snap-on during the third quarter worth about $40,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Snap-on during the fourth quarter worth about $43,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Up 2.1 %

SNA stock opened at $296.94 on Thursday. Snap-on Incorporated has a 1-year low of $226.68 and a 1-year high of $297.61. The business’s 50 day simple moving average is $283.38 and its 200 day simple moving average is $274.79. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $15.69 billion, a PE ratio of 15.84, a PEG ratio of 2.08 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business earned $4.42 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Snap-on Incorporated will post 19.21 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNA shares. Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $306.00.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap-on news, SVP Anup R. Banerjee sold 12,397 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the transaction, the senior vice president now owns 11,420 shares in the company, valued at approximately $3,233,344.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,664 shares of company stock worth $13,189,544. Company insiders own 4.10% of the company’s stock.

Snap-on Company Profile

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.