Opal Wealth Advisors LLC Makes New $35,000 Investment in Snap-on Incorporated (NYSE:SNA)

Opal Wealth Advisors LLC acquired a new position in Snap-on Incorporated (NYSE:SNA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 104 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in Snap-on in the 1st quarter worth about $2,629,000. Wealth Enhancement Advisory Services LLC grew its position in Snap-on by 6.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company’s stock worth $15,949,000 after purchasing an additional 2,790 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Snap-on by 7.1% in the 1st quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $335,000 after purchasing an additional 66 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Snap-on by 3.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,997 shares of the company’s stock valued at $673,000 after acquiring an additional 71 shares during the last quarter. Finally, Rockland Trust Co. boosted its stake in Snap-on by 3.1% in the first quarter. Rockland Trust Co. now owns 3,286 shares of the company’s stock valued at $1,107,000 after acquiring an additional 100 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of SNA stock opened at $312.11 on Tuesday. The stock has a market capitalization of $16.32 billion, a P/E ratio of 16.01, a PEG ratio of 2.21 and a beta of 0.78. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $319.21 and its 200 day moving average is $333.40. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the company posted $4.91 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Analyst Ratings Changes

A number of research analysts have weighed in on SNA shares. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird dropped their target price on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $350.83.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director now directly owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,515 shares of company stock valued at $17,094,296. Company insiders own 3.90% of the company’s stock.

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.