1,065 Shares in Snap-on Incorporated (NYSE:SNA) Purchased by MGO One Seven LLC

Posted by on Apr 9th, 2023

MGO One Seven LLC acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,065 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after purchasing an additional 237,843 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at about $20,356,000. Vanguard Group Inc. grew its position in shares of Snap-on by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,564,799 shares of the company’s stock valued at $1,321,822,000 after buying an additional 92,450 shares during the last quarter. Renaissance Technologies LLC raised its stake in Snap-on by 145.7% during the first quarter. Renaissance Technologies LLC now owns 119,900 shares of the company’s stock worth $24,637,000 after acquiring an additional 71,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Snap-on by 6.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,006,724 shares of the company’s stock worth $206,862,000 after acquiring an additional 62,813 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Snap-on Trading Down 0.4 %

Shares of NYSE:SNA opened at $228.71 on Friday. The company has a 50 day moving average of $244.69 and a 200-day moving average of $233.58. The company has a current ratio of 3.47, a quick ratio of 2.40 and a debt-to-equity ratio of 0.26. The firm has a market cap of $12.15 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.92 and a beta of 1.09. Snap-on Incorporated has a twelve month low of $190.08 and a twelve month high of $259.78.

Snap-on (NYSE:SNA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.33. Snap-on had a return on equity of 20.83% and a net margin of 20.29%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $4.10 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts anticipate that Snap-on Incorporated will post 17.1 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 23rd were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Wednesday, February 22nd. Snap-on’s payout ratio is 38.50%.

Insider Activity

In related news, VP Iain Boyd sold 2,736 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $259.01, for a total transaction of $708,651.36. Following the completion of the sale, the vice president now directly owns 6,249 shares of the company’s stock, valued at $1,618,553.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snap-on news, Director William Dudley Lehman sold 363 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $248.24, for a total transaction of $90,111.12. Following the completion of the sale, the director now directly owns 10,980 shares of the company’s stock, valued at $2,725,675.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Iain Boyd sold 2,736 shares of Snap-on stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $259.01, for a total transaction of $708,651.36. Following the completion of the transaction, the vice president now directly owns 6,249 shares in the company, valued at $1,618,553.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,744 shares of company stock worth $10,207,319. Corporate insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com initiated coverage on Snap-on in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Tigress Financial reiterated a “buy” rating and issued a $302.00 target price (up from $298.00) on shares of Snap-on in a research note on Thursday, March 2nd. MKM Partners upped their price target on shares of Snap-on from $238.00 to $259.00 in a research report on Friday, February 3rd. Robert W. Baird lifted their price objective on shares of Snap-on from $253.00 to $265.00 in a research report on Friday, February 3rd. Finally, Roth Capital reissued a “neutral” rating on shares of Snap-on in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $250.25.

Snap-on Company Profile

(Get Rating)

Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.

Featured Stories

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA – Get Rating).

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.