EverSource Wealth Advisors LLC Grows Holdings in Snap-on Incorporated (NYSE:SNA)

EverSource Wealth Advisors LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 53.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229 shares of the company’s stock after purchasing an additional 80 shares during the period. EverSource Wealth Advisors LLC’s holdings in Snap-on were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SNA. Metis Global Partners LLC increased its stake in shares of Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Snap-on by 6.5% during the third quarter. CIBC Asset Management Inc now owns 9,300 shares of the company’s stock worth $2,694,000 after purchasing an additional 571 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Snap-on by 4.4% during the third quarter. Natixis Advisors LLC now owns 66,438 shares of the company’s stock worth $19,248,000 after purchasing an additional 2,794 shares in the last quarter. Quest Partners LLC increased its stake in shares of Snap-on by 698.1% during the third quarter. Quest Partners LLC now owns 4,150 shares of the company’s stock worth $1,202,000 after purchasing an additional 3,630 shares in the last quarter. Finally, Lindenwold Advisors INC increased its stake in shares of Snap-on by 71.1% during the third quarter. Lindenwold Advisors INC now owns 7,885 shares of the company’s stock worth $2,284,000 after purchasing an additional 3,277 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 0.1 %

Shares of NYSE SNA opened at $328.97 on Wednesday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The stock has a market cap of $17.24 billion, a PE ratio of 16.87, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $341.27 and a 200 day moving average of $330.74.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the business posted $4.75 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.60%. Snap-on’s payout ratio is 43.90%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the company’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 in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’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 in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNA shares. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $346.40.

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.