Drucker Wealth 3.0 LLC Buys 1,378 Shares of Snap-On Incorporated $SNA

Drucker Wealth 3.0 LLC raised its stake in Snap-On Incorporated (NYSE:SNA) by 121.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the company’s stock after purchasing an additional 1,378 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Snap-On were worth $870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Generali Asset Management SPA SGR acquired a new position in Snap-On during the third quarter worth $2,068,000. Norges Bank bought a new stake in shares of Snap-On during the second quarter worth about $168,010,000. First Citizens Bank & Trust Co. raised its holdings in shares of Snap-On by 3.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company’s stock worth $13,910,000 after acquiring an additional 1,404 shares during the last quarter. Vanguard Group Inc. boosted its stake in Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after purchasing an additional 80,422 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after purchasing an additional 36,964 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SNA. Tigress Financial raised their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Roth Mkm reaffirmed a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research note on Friday, February 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $370.67.

Snap-On Stock Performance

Shares of SNA opened at $381.59 on Wednesday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The stock’s fifty day moving average price is $361.93 and its two-hundred day moving average price is $344.50. The firm has a market cap of $19.81 billion, a PE ratio of 19.88, a PEG ratio of 2.65 and a beta of 0.81.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.82 EPS. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insiders Place Their Bets

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares of the company’s stock, valued at $1,448,106.66. The trade was a 32.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the transaction, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,036 shares of company stock worth $16,792,028 in the last three months. Insiders own 3.90% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.