LPL Financial LLC Raises Stake in Snap-on Incorporated (NYSE:SNA)

LPL Financial LLC grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 25.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,764 shares of the company's stock after buying an additional 14,985 shares during the period. LPL Financial LLC owned approximately 0.14% of Snap-on worth $25,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company's stock valued at $613,019,000 after purchasing an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock valued at $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC lifted its position in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock valued at $466,199,000 after purchasing an additional 69,590 shares during the period. Nordea Investment Management AB boosted its holdings in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Snap-on during the 4th quarter valued at about $148,839,000. Institutional investors own 84.88% of the company's stock.

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Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 over the last three months. 3.90% of the stock is owned by insiders.

Snap-on Price Performance

Shares of SNA traded up $2.68 during mid-day trading on Wednesday, hitting $342.26. 302,372 shares of the stock were exchanged, compared to its average volume of 401,272. The company has a market cap of $17.94 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a 50-day moving average of $339.60 and a two-hundred day moving average of $334.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the business posted $4.75 earnings per share. On average, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.50%. Snap-on's payout ratio is presently 43.90%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $355.33.

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.