Pacific Capital Wealth Advisors Inc. Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 189 shares of the company’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BKM Wealth Management LLC acquired a new position in shares of Snap-on during the fourth quarter worth approximately $33,000. Exchange Traded Concepts LLC acquired a new position in shares of Snap-on during the fourth quarter worth approximately $43,000. Peoples Bank KS acquired a new position in shares of Snap-on during the third quarter worth approximately $40,000. Fortitude Family Office LLC acquired a new position in shares of Snap-on during the fourth quarter worth approximately $49,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Snap-on during the fourth quarter worth approximately $53,000. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the sale, the chief financial officer now owns 95,661 shares in the company, valued at approximately $26,014,052.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 7,522 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the sale, the chief financial officer now owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of SNA stock traded up $2.27 on Tuesday, hitting $276.86. 223,640 shares of the stock were exchanged, compared to its average volume of 311,005. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $14.60 billion, a PE ratio of 14.53, a P/E/G ratio of 1.87 and a beta of 1.00. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49. The firm’s 50 day moving average is $284.38 and its two-hundred day moving average is $279.81.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company earned $4.60 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.69%. Snap-on’s dividend payout ratio is currently 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.