Sequoia Financial Advisors LLC Has $1.68 Million Stock Holdings in Snap-On Incorporated $SNA

Sequoia Financial Advisors LLC raised its holdings in Snap-On Incorporated (NYSE:SNA) by 76.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,875 shares of the company’s stock after acquiring an additional 2,119 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Snap-On were worth $1,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank raised its position in shares of Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after purchasing an additional 27 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Snap-On by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $2,546,000 after purchasing an additional 31 shares during the period. CWM LLC increased its stake in shares of Snap-On by 0.6% in the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after purchasing an additional 31 shares during the period. Ritholtz Wealth Management increased its stake in shares of Snap-On by 2.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after purchasing an additional 34 shares during the period. Finally, MFA Wealth Services increased its stake in shares of Snap-On by 2.9% in the third quarter. MFA Wealth Services now owns 1,236 shares of the company’s stock worth $428,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Down 1.0%

Shares of Snap-On stock opened at $370.19 on Tuesday. The firm has a market capitalization of $19.18 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The company’s fifty day moving average price is $373.36 and its two-hundred day moving average price is $361.65. Snap-On Incorporated has a 52-week low of $301.82 and a 52-week high of $400.88.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $4.51 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.75 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its board has authorized a stock repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird lifted their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Roth Mkm reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Tigress Financial boosted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $381.20.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer owned 117,183 shares of the company’s stock, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,046 shares of company stock worth $20,921,434 in the last quarter. 3.80% of the stock is owned by corporate insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.