Drake & Associates LLC Has $467,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Drake & Associates LLC trimmed its position in Snap-on Incorporated (NYSE:SNA) by 7.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,617 shares of the company’s stock after selling 130 shares during the period. Drake & Associates LLC’s holdings in Snap-on were worth $467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avantax Planning Partners Inc. grew its position in shares of Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after buying an additional 38 shares during the period. Phoenix Wealth Advisors lifted its stake in Snap-on by 3.1% in the 3rd quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Snap-on by 17.2% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after purchasing an additional 40 shares in the last quarter. Balentine LLC raised its stake in shares of Snap-on by 4.5% during the 2nd quarter. Balentine LLC now owns 1,004 shares of the company’s stock worth $289,000 after purchasing an additional 43 shares in the last quarter. Finally, Kolinsky Wealth Management LLC raised its stake in shares of Snap-on by 2.9% during the 1st quarter. Kolinsky Wealth Management LLC now owns 1,586 shares of the company’s stock worth $392,000 after purchasing an additional 44 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was 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 approximately $957,988.08. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock worth $13,399,449 in the last ninety days. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

SNA has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday. Tigress Financial restated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $306.00.

Snap-on Stock Performance

NYSE SNA traded up $1.49 on Monday, reaching $291.07. The stock had a trading volume of 32,379 shares, compared to its average volume of 298,543. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The firm has a fifty day moving average of $284.30 and a two-hundred day moving average of $277.84. Snap-on Incorporated has a 1-year low of $238.90 and a 1-year high of $298.49. The company has a market cap of $15.38 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. Snap-on’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.42 EPS. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.22 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.56%. Snap-on’s dividend payout ratio is currently 39.68%.

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.