Ethos Financial Group LLC Makes New $324,000 Investment in Snap-on Incorporated (NYSE:SNA)

Ethos Financial Group LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,121 shares of the company’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after buying an additional 298,727 shares during the period. Envestnet Asset Management Inc. boosted its position in Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after purchasing an additional 137,920 shares during the period. FMR LLC increased its position in shares of Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after purchasing an additional 107,582 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Snap-on by 388.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock worth $32,560,000 after purchasing an additional 101,499 shares during the period. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on SNA shares. Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap-on news, SVP Anup R. Banerjee sold 12,397 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the sale, the senior vice president now directly owns 11,420 shares in the company, valued at $3,233,344.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock worth $14,089,523 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock traded up $4.20 during trading hours on Thursday, hitting $280.11. The company’s stock had a trading volume of 156,326 shares, compared to its average volume of 309,120. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49. The business has a 50 day moving average price of $284.48 and a two-hundred day moving average price of $279.79. The company has a market cap of $14.77 billion, a PE ratio of 14.70, a PEG ratio of 1.87 and a beta of 1.00.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $4.60 EPS. The company’s revenue was down .1% on a year-over-year basis. Analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

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.