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

Pacific Capital Wealth Advisors Inc. purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 189 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors have also recently modified their holdings of the company. Brown Advisory Inc. raised its holdings in Snap-on by 0.5% in the third quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock worth $5,582,000 after purchasing an additional 114 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Snap-on by 5.2% in the third quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock valued at $415,000 after acquiring an additional 80 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Snap-on by 3.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,082 shares of the company’s stock worth $17,365,000 after buying an additional 2,476 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Snap-on by 2.2% during the third quarter. Mackenzie Financial Corp now owns 4,271 shares of the company’s stock worth $1,085,000 after buying an additional 90 shares during the period. Finally, Strs Ohio raised its holdings in Snap-on by 6.5% during the third quarter. Strs Ohio now owns 9,831 shares of the company’s stock worth $2,507,000 after purchasing an additional 604 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Performance

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

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $4.60 earnings per share. Snap-on’s revenue was down .1% compared to the same quarter last year. Research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared 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 is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.69%. Snap-on’s payout ratio is currently 39.03%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 7,522 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 of the company’s stock, valued at approximately $26,014,052.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,930 shares of company stock worth $14,089,523. Insiders own 4.10% of the company’s stock.

Snap-on 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.