Orion Portfolio Solutions LLC Acquires 804 Shares of Snap-on Incorporated (NYSE:SNA)

Orion Portfolio Solutions LLC grew its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,652 shares of the company's stock after buying an additional 804 shares during the period. Orion Portfolio Solutions LLC's holdings in Snap-on were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. raised its stake in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on in the 4th quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the 4th quarter valued at about $28,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-on during the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC grew its stake in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SNA. Barrington Research reissued 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 increased 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. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $355.33.

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Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 in the last 90 days. Insiders own 3.90% of the company's stock.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $12.48 during midday trading on Friday, reaching $314.98. The company had a trading volume of 649,015 shares, compared to its average volume of 345,360. The stock has a market cap of $16.51 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.21 and a beta of 0.84. The company's 50 day moving average price is $338.24 and its 200 day moving average price is $335.75. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 quarter in the prior year, the company posted $4.75 earnings per share. As a group, sell-side analysts anticipate 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 paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.72%. Snap-on's payout ratio is presently 43.90%.

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.