Proficio Capital Partners LLC Acquires Shares of 170,079 Snap-on Incorporated (NYSE:SNA)

Proficio Capital Partners LLC acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 170,079 shares of the company’s stock, valued at approximately $57,738,000. Snap-on makes up 0.7% of Proficio Capital Partners LLC’s investment portfolio, making the stock its 16th largest position.

Several other institutional investors have also added to or reduced their stakes in SNA. Aurora Investment Counsel increased its holdings in shares of Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after buying an additional 30 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after buying an additional 30 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after buying an additional 31 shares in the last quarter. Finally, New York Life Investment Management LLC increased its holdings in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after buying an additional 31 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNA shares. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $346.40.

Snap-on Stock Performance

NYSE SNA opened at $323.15 on Friday. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The stock has a fifty day simple moving average of $341.84 and a 200 day simple moving average of $329.10. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 in the prior year, the business earned $4.75 earnings per share. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.65%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by insiders.

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.