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

HighTower Advisors LLC raised its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,226 shares of the company's stock after purchasing an additional 1,006 shares during the quarter. HighTower Advisors LLC owned 0.09% of Snap-on worth $16,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNA. Victory Capital Management Inc. grew its stake in shares of Snap-on by 21.5% in the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company's stock worth $45,999,000 after acquiring an additional 28,049 shares during the period. KBC Group NV grew its stake in shares of Snap-on by 1.8% in the third quarter. KBC Group NV now owns 15,437 shares of the company's stock worth $4,472,000 after acquiring an additional 271 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Snap-on by 24.8% in the third quarter. Zions Bancorporation N.A. now owns 1,167 shares of the company's stock worth $338,000 after acquiring an additional 232 shares during the period. Metis Global Partners LLC grew its stake in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company's stock worth $490,000 after acquiring an additional 32 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Snap-on by 7.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,333 shares of the company's stock worth $386,000 after acquiring an additional 98 shares during the period. 84.88% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research analyst reports. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $346.40.

Snap-on Stock Performance

Shares of SNA traded up $3.72 on Wednesday, reaching $332.98. The company's stock had a trading volume of 343,222 shares, compared to its average volume of 320,355. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $17.45 billion, a P/E ratio of 17.08, a PEG ratio of 2.21 and a beta of 0.99. The stock's 50 day simple moving average is $341.27 and its two-hundred day simple moving average is $330.74. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly 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 quarter in the prior year, the company earned $4.75 EPS. Research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is currently 43.90%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. 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.