Level Four Advisory Services LLC Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

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

Other hedge funds also recently bought and sold shares of the company. denkapparat Operations GmbH acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $379,000. Orion Portfolio Solutions LLC lifted its stake in Snap-on by 11.7% in 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 last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Snap-on by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 23,898 shares of the company’s stock valued at $8,113,000 after purchasing an additional 111 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Snap-on during the 4th quarter worth approximately $2,831,000. Finally, Norges Bank purchased a new position in Snap-on during the 4th quarter valued at about $145,342,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by corporate insiders.

Snap-on Trading Down 1.9 %

Shares of Snap-on stock opened at $329.09 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $340.12 and a 200-day simple moving average of $333.11. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

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

Snap-on Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SNA. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $346.40.

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.