Evolve Private Wealth LLC Invests $3.94 Million in Snap-On Incorporated $SNA

Evolve Private Wealth LLC purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,424 shares of the company’s stock, valued at approximately $3,937,000.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Snap-On during the fourth quarter worth $25,000. DV Equities LLC acquired a new position in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new position in shares of Snap-On during the fourth quarter worth $28,000. Montag A & Associates Inc. increased its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in shares of Snap-On during the fourth quarter worth $35,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Price Performance

Shares of NYSE SNA opened at $380.70 on Thursday. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The firm has a fifty day simple moving average of $376.03 and a 200 day simple moving average of $368.29. The company has a market capitalization of $19.72 billion, a PE ratio of 19.65, a P/E/G ratio of 2.74 and a beta of 0.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $4.51 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has authorized a share buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 1,330 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the sale, the chief financial officer directly owned 118,158 shares in the company, valued at approximately $44,813,784.66. This trade represents a 1.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 427 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the sale, the vice president owned 4,527 shares of the company’s stock, valued at approximately $1,763,492.85. The trade was a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 35,117 shares of company stock valued at $13,192,082. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Roth Mkm restated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Finally, Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

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.