Connecticut Wealth Management LLC Grows Stake in Snap-on Incorporated (NYSE:SNA)

Connecticut Wealth Management LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 266.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,134 shares of the company’s stock after purchasing an additional 4,460 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Snap-on were worth $1,772,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNA. Xponance Inc. grew its holdings in Snap-on by 2.6% during the 3rd quarter. Xponance Inc. now owns 7,737 shares of the company’s stock worth $1,973,000 after acquiring an additional 196 shares in the last quarter. NorthRock Partners LLC bought a new position in Snap-on in the third quarter worth approximately $200,000. Brown Advisory Inc. raised its stake in Snap-on by 0.5% in the third quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock worth $5,582,000 after buying an additional 114 shares in the last quarter. Monument Capital Management purchased a new stake in Snap-on during the third quarter worth $2,386,000. Finally, Verdence Capital Advisors LLC boosted its position in Snap-on by 5.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock valued at $415,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares in the company, valued at approximately $2,333,379.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Jesus Arregui sold 2,562 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock worth $14,089,523 in the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Up 1.6 %

NYSE SNA traded up $4.16 during trading on Friday, hitting $271.03. The company’s stock had a trading volume of 262,537 shares, compared to its average volume of 341,144. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The company has a market cap of $14.29 billion, a PE ratio of 14.22, a P/E/G ratio of 1.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The business’s 50 day simple moving average is $284.25 and its 200-day simple moving average is $279.14.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $4.60 EPS. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts anticipate that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s payout ratio is 39.03%.

Analysts Set New Price Targets

SNA has been the subject of several recent research reports. Robert W. Baird reduced their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus target price of $316.75.

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.