Hennion & Walsh Asset Management Inc. Has $863,000 Holdings in Snap-on Incorporated (NYSE:SNA)

Hennion & Walsh Asset Management Inc. boosted its position in Snap-on Incorporated (NYSE:SNAFree Report) by 3.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,562 shares of the company’s stock after acquiring an additional 97 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Snap-on were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC acquired a new position in Snap-on in the 4th quarter valued at $512,000. Vest Financial LLC grew its position in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after purchasing an additional 2,460 shares during the last quarter. Ethic Inc. grew its position in Snap-on by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after purchasing an additional 1,445 shares during the last quarter. Empirical Finance LLC grew its position in Snap-on by 45.8% in the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,856 shares during the last quarter. Finally, Advyzon Investment Management LLC acquired a new stake in Snap-on in the 4th quarter worth $272,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer now directly owns 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,515 shares of company stock valued at $17,094,296. Insiders own 3.90% of the company’s stock.

Snap-on Trading Up 0.9%

Shares of SNA stock opened at $321.91 on Friday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a market capitalization of $16.83 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.21 and a beta of 0.78. The firm has a 50-day moving average price of $319.41 and a 200 day moving average price of $335.77. 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:SNAGet Free Report) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned $4.91 earnings per share. Research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio is presently 44.82%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Tigress Financial raised their price objective 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. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Robert W. Baird reduced their price objective on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average price target of $350.83.

Check Out Our Latest Stock Report on Snap-on

About Snap-on

(Free Report)

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.

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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:SNAFree Report).

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

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