Steel Grove Capital Advisors LLC Invests $219,000 in Snap-on Incorporated (NYSE:SNA)

Steel Grove Capital Advisors LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 757 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds also recently bought and sold shares of SNA. Clear Street Markets LLC increased its holdings in Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Snap-on in the 4th quarter valued at $33,000. Parkside Financial Bank & Trust boosted its holdings in Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the period. Exchange Traded Concepts LLC acquired a new position in Snap-on in the 4th quarter valued at about $43,000. Finally, Quarry LP increased its stake in Snap-on by 384.4% during the second quarter. Quarry LP now owns 155 shares of the company’s stock worth $45,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold 46,664 shares of company stock valued at $13,189,544 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Snap-on Stock Down 0.3 %

Shares of NYSE:SNA traded down $0.78 during trading on Thursday, hitting $296.16. 107,465 shares of the company were exchanged, compared to its average volume of 306,080. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The firm’s 50 day moving average price is $283.38 and its 200-day moving average price is $274.79. The stock has a market capitalization of $15.65 billion, a P/E ratio of 15.84, a PEG ratio of 2.08 and a beta of 0.98. Snap-on Incorporated has a 12-month low of $226.68 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $4.42 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts predict that Snap-on Incorporated will post 19.21 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s payout ratio is currently 39.68%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Thursday, February 8th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $306.00.

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.