New Age Alpha Advisors LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

New Age Alpha Advisors LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,339 shares of the company’s stock, valued at approximately $2,831,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock valued at $2,174,233,000 after acquiring an additional 19,328 shares during the period. State Street Corp lifted its stake in shares of Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares during the last quarter. Geode Capital Management LLC increased its holdings in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after acquiring an additional 127,859 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

SNA opened at $329.09 on Friday. The firm has a market cap of $17.25 billion, a P/E ratio of 16.88, a PEG 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. The company has a 50 day simple moving average of $340.12 and a two-hundred day simple moving average of $333.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted $4.75 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. 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. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average target price of $346.40.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% of the company’s stock.

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.