3,457 Shares in Snap-on Incorporated (NYSE:SNA) Bought by Duality Advisers LP

Duality Advisers LP acquired a new position in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,457 shares of the company’s stock, valued at approximately $999,000.

A number of other hedge funds have also recently made changes to their positions in SNA. Foundry Partners LLC boosted its stake in Snap-on by 0.5% in the 4th quarter. Foundry Partners LLC now owns 66,652 shares of the company’s stock worth $19,252,000 after purchasing an additional 319 shares during the period. MCF Advisors LLC lifted its stake in Snap-on by 13.7% in the 4th quarter. MCF Advisors LLC now owns 747 shares of the company’s stock worth $216,000 after purchasing an additional 90 shares in the last quarter. CWM LLC grew its position in shares of Snap-on by 20.8% during the fourth quarter. CWM LLC now owns 5,703 shares of the company’s stock valued at $1,647,000 after purchasing an additional 982 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Snap-on in the fourth quarter worth about $209,000. Finally, abrdn plc boosted its stake in Snap-on by 46.0% during the fourth quarter. abrdn plc now owns 27,694 shares of the company’s stock valued at $7,999,000 after buying an additional 8,724 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several recent research reports. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $271.30 on Wednesday. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12 month low of $247.68 and a 12 month high of $298.49. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.85 and a beta of 0.99. The firm’s 50-day moving average is $283.80 and its 200 day moving average is $278.68.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $4.60 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that Snap-on Incorporated will post 19.06 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.74%. Snap-on’s payout ratio is 39.03%.

Insider Buying and Selling at Snap-on

In other news, 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 transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The transaction 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 company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock valued at $13,399,449 in the last three months. Company insiders own 4.10% of the company’s stock.

About Snap-on

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.