CapWealth Advisors LLC Has $14.62 Million Stake in Snap-on Incorporated (NYSE:SNA)

CapWealth Advisors LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,077 shares of the company’s stock after buying an additional 707 shares during the quarter. Snap-on accounts for about 1.6% of CapWealth Advisors LLC’s portfolio, making the stock its 28th largest holding. CapWealth Advisors LLC owned about 0.08% of Snap-on worth $14,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Asset Planning Inc acquired a new stake in Snap-on in the fourth quarter valued at about $68,000. Banque Pictet & Cie SA acquired a new stake in shares of Snap-on in the 4th quarter valued at approximately $4,244,000. Vontobel Holding Ltd. grew its stake in shares of Snap-on by 443.9% during the fourth quarter. Vontobel Holding Ltd. now owns 10,704 shares of the company’s stock worth $3,634,000 after buying an additional 8,736 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Snap-on by 7.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 21,296 shares of the company’s stock worth $7,316,000 after buying an additional 1,400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Snap-on by 89.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,951 shares of the company’s stock worth $6,016,000 after purchasing an additional 8,471 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Down 0.2 %

NYSE SNA opened at $339.12 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The business has a 50 day moving average price of $345.36 and a 200-day moving average price of $321.13. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 firm earned $4.75 earnings per share. As a group, equities analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SNA shares. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $345.40.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s 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 sale, the senior vice president now directly owns 257 shares of the company’s stock, 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. Insiders have sold 38,643 shares of company stock valued at $13,580,191 in the last three months. 4.10% of the stock is currently owned by insiders.

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.