Snap-On Incorporated $SNA Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC lifted its holdings in Snap-On Incorporated (NYSE:SNA) by 68.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,423 shares of the company’s stock after buying an additional 5,867 shares during the quarter. Procyon Advisors LLC’s holdings in Snap-On were worth $4,970,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SNA. CWA Asset Management Group LLC boosted its stake in Snap-On by 7.1% in the fourth quarter. CWA Asset Management Group LLC now owns 8,874 shares of the company’s stock valued at $3,058,000 after acquiring an additional 589 shares during the period. Lake Hills Wealth Management LLC acquired a new stake in Snap-On in the fourth quarter worth $441,000. Sagespring Wealth Partners LLC increased its position in Snap-On by 5.8% in the fourth quarter. Sagespring Wealth Partners LLC now owns 1,173 shares of the company’s stock worth $404,000 after buying an additional 64 shares during the period. Park Avenue Securities LLC lifted its stake in Snap-On by 1.7% in the fourth quarter. Park Avenue Securities LLC now owns 34,580 shares of the company’s stock valued at $11,916,000 after buying an additional 591 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new stake in Snap-On in the 4th quarter valued at about $28,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Trading Down 1.0%

Snap-On stock opened at $357.03 on Friday. The firm has a market cap of $18.59 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The firm’s 50 day moving average price is $373.42 and its two-hundred day moving average price is $352.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 EPS. On average, research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $2.44 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,650 shares of company stock worth $15,210,959. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Tigress Financial raised their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.