Apollon Wealth Management LLC Acquires 663 Shares of Snap-on Incorporated (NYSE:SNA)

Apollon Wealth Management LLC lifted its stake in Snap-on Incorporated (NYSE:SNA) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,354 shares of the company’s stock after acquiring an additional 663 shares during the period. Apollon Wealth Management LLC’s holdings in Snap-on were worth $1,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new position in Snap-on during the fourth quarter valued at approximately $33,000. Exchange Traded Concepts LLC bought a new position in Snap-on in the 4th quarter worth about $43,000. Peoples Bank KS purchased a new stake in shares of Snap-on in the 3rd quarter valued at about $40,000. Fortitude Family Office LLC purchased a new position in shares of Snap-on during the fourth quarter worth about $49,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Snap-on in the fourth quarter valued at approximately $53,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Down 0.4 %

NYSE:SNA traded down $1.18 during midday trading on Wednesday, reaching $275.68. 44,257 shares of the stock traded hands, compared to its average volume of 307,983. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49. The stock has a market capitalization of $14.53 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The business has a 50-day moving average of $284.38 and a two-hundred day moving average of $279.81.

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

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm reissued 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,930 shares of company stock worth $14,089,523. Insiders own 4.10% of the company’s stock.

About Snap-on

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.