Apollon Wealth Management LLC Purchases 544 Shares of Snap-on Incorporated (NYSE:SNA)

Apollon Wealth Management LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,375 shares of the company’s stock after purchasing an additional 544 shares during the quarter. Apollon Wealth Management LLC’s holdings in Snap-on were worth $1,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SNA. Scarborough Advisors LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in Snap-on during the second quarter valued at $30,000. Versant Capital Management Inc raised its stake in Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in Snap-on during the fourth quarter valued at $55,000. Finally, Fidelis Capital Partners LLC purchased a new position in Snap-on during the first quarter valued at $56,000. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 8,434 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now owns 252 shares of the company’s stock, valued at $66,822.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the sale, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The disclosure for this sale can be found here. Insiders sold a total of 62,777 shares of company stock valued at $16,847,207 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Snap-on stock traded up $3.01 during mid-day trading on Monday, reaching $277.36. 155,573 shares of the stock traded hands, compared to its average volume of 295,647. The stock has a market capitalization of $14.62 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The business’s 50-day moving average is $269.13 and its 200-day moving average is $275.91.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business earned $4.89 earnings per share. Snap-on’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, August 19th. Snap-on’s dividend payout ratio is presently 39.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNA. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Robert W. Baird decreased their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Company 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.