Snap-on Incorporated (NYSE:SNA) Shares Acquired by Centric Wealth Management

Centric Wealth Management grew its position in Snap-on Incorporated (NYSE:SNA) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,030 shares of the company’s stock after purchasing an additional 484 shares during the period. Centric Wealth Management’s holdings in Snap-on were worth $2,049,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC grew its stake in shares of Snap-on by 14.1% during the 4th quarter. Apollon Wealth Management LLC now owns 5,354 shares of the company’s stock worth $1,546,000 after purchasing an additional 663 shares during the period. Lincoln National Corp increased its holdings in Snap-on by 50.7% in the fourth quarter. Lincoln National Corp now owns 2,354 shares of the company’s stock valued at $680,000 after buying an additional 792 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Snap-on in the fourth quarter worth about $315,000. Private Advisor Group LLC boosted its stake in shares of Snap-on by 1.2% during the 4th quarter. Private Advisor Group LLC now owns 9,768 shares of the company’s stock worth $2,821,000 after acquiring an additional 118 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in shares of Snap-on in the 4th quarter valued at about $329,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Price Performance

SNA traded down $0.86 during trading on Wednesday, reaching $276.00. The company’s stock had a trading volume of 89,583 shares, compared to its average volume of 308,482. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.87 and a beta of 1.00. The firm has a fifty day simple moving average of $284.38 and a two-hundred day simple moving average of $279.81. Snap-on Incorporated has a 1 year low of $247.68 and a 1 year high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

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

Snap-on Dividend Announcement

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

Insider Activity

In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, 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 directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $209,904.64. Following the transaction, the vice president now 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 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SNA. Barrington Research reissued an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird lowered their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

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.