Peak Financial Advisors LLC Buys New Stake in Snap-On Incorporated $SNA

Peak Financial Advisors LLC bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,822 shares of the company’s stock, valued at approximately $2,434,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after buying an additional 38 shares during the period. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Snap-On during the 1st quarter worth $920,000. Modern Wealth Management LLC increased its stake in Snap-On by 7.4% during the 1st quarter. Modern Wealth Management LLC now owns 638 shares of the company’s stock worth $215,000 after buying an additional 44 shares during the period. Strs Ohio purchased a new stake in Snap-On during the 1st quarter worth $2,206,000. Finally, Jacobi Capital Management LLC increased its stake in Snap-On by 12.7% during the 1st quarter. Jacobi Capital Management LLC now owns 692 shares of the company’s stock worth $233,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

SNA opened at $333.70 on Friday. The company has a 50-day moving average of $324.94 and a 200-day moving average of $322.84. The company has a market capitalization of $17.41 billion, a P/E ratio of 17.80, a PEG ratio of 2.31 and a beta of 0.77. Snap-On Incorporated has a 1-year low of $278.75 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.07 EPS. Equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is currently 45.65%.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and an average price target of $357.00.

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.