2,414 Shares in Snap-On Incorporated $SNA Bought by Core Wealth Advisors LLC

Core Wealth Advisors LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,414 shares of the company’s stock, valued at approximately $832,000. Snap-On comprises approximately 0.5% of Core Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest position.

Several other large investors have also added to or reduced their stakes in the business. MUFG Securities EMEA plc boosted its holdings in Snap-On by 114.5% during the fourth quarter. MUFG Securities EMEA plc now owns 2,141 shares of the company’s stock worth $738,000 after purchasing an additional 1,143 shares during the last quarter. Forsta AP Fonden boosted its holdings in Snap-On by 2.6% during the fourth quarter. Forsta AP Fonden now owns 10,980 shares of the company’s stock worth $3,784,000 after purchasing an additional 280 shares during the last quarter. Norges Bank acquired a new position in Snap-On during the fourth quarter worth $210,814,000. Eurizon Capital SGR S.p.A. bought a new stake in Snap-On during the fourth quarter worth $29,939,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in Snap-On during the fourth quarter worth $2,051,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

Snap-On Trading Down 0.7%

Shares of Snap-On stock opened at $371.75 on Friday. The company has a market capitalization of $19.26 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.61 and a beta of 0.75. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The firm’s 50-day moving average price is $371.30 and its two-hundred day moving average price is $364.00.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.51 earnings per share. On average, analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its board has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNA shares. Robert W. Baird increased their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Roth Mkm restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Barclays began coverage on shares of Snap-On in a research note on Thursday. They issued an “overweight” rating and a $420.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $387.67.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.