Orion Portfolio Solutions LLC Boosts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Orion Portfolio Solutions LLC increased its stake in Snap-on Incorporated (NYSE:SNA) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,652 shares of the company’s stock after acquiring an additional 804 shares during the period. Orion Portfolio Solutions LLC’s holdings in Snap-on were worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Snap-on by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company’s stock worth $12,742,000 after acquiring an additional 273 shares during the last quarter. FMR LLC lifted its position in shares of Snap-on by 16.3% during the 3rd quarter. FMR LLC now owns 57,543 shares of the company’s stock worth $16,671,000 after purchasing an additional 8,073 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Snap-on by 14.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock worth $675,000 after purchasing an additional 300 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Snap-on by 3.5% during the third quarter. Captrust Financial Advisors now owns 8,738 shares of the company’s stock worth $2,532,000 after purchasing an additional 297 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in Snap-on by 1,035.0% in the third quarter. Verition Fund Management LLC now owns 8,694 shares of the company’s stock valued at $2,519,000 after buying an additional 7,928 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNA has been the subject of several analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.33.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated 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 owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the 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 $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 have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. 3.90% of the stock is currently owned by insiders.

Snap-on Trading Up 0.7 %

NYSE:SNA opened at $339.31 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 4.15 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. The stock’s 50 day moving average price is $339.60 and its 200 day moving average price is $334.75. The company has a market capitalization of $17.79 billion, a PE ratio of 17.40, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping 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 last year, the firm earned $4.75 EPS. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Snap-on 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.