Level Four Advisory Services LLC Grows Stake in Snap-on Incorporated (NYSE:SNA)

Level Four Advisory Services LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,934 shares of the company’s stock after buying an additional 176 shares during the period. Level Four Advisory Services LLC’s holdings in Snap-on were worth $2,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. denkapparat Operations GmbH purchased a new stake in shares of Snap-on in the 4th quarter valued at $379,000. Orion Portfolio Solutions LLC boosted its position in Snap-on by 11.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,652 shares of the company’s stock valued at $2,598,000 after buying an additional 804 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Snap-on by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 23,898 shares of the company’s stock valued at $8,113,000 after buying an additional 111 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Snap-on in the fourth quarter worth about $2,831,000. Finally, Norges Bank bought a new stake in shares of Snap-on in the 4th quarter valued at about $145,342,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 over the last three months. 3.90% of the stock is currently owned by company insiders.

Snap-on Stock Performance

SNA stock opened at $329.09 on Friday. The stock’s fifty day moving average price is $340.12 and its 200-day moving average price is $333.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $17.25 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm earned $4.75 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average target price of $346.40.

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.