Apriem Advisors Lowers Stock Position in Snap-On Incorporated $SNA

Apriem Advisors lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 32.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,473 shares of the company’s stock after selling 5,002 shares during the quarter. Apriem Advisors’ holdings in Snap-On were worth $3,629,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tobam bought a new stake in Snap-On during the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the last quarter. SJS Investment Consulting Inc. increased its position in shares of Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. Quent Capital LLC purchased a new position in Snap-On in the 3rd quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust purchased a new position in Snap-On in the 2nd quarter worth approximately $37,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on Snap-On in a report on Friday, February 6th. Roth Mkm reiterated a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $370.67.

Snap-On Trading Down 0.2%

Shares of NYSE:SNA opened at $385.04 on Tuesday. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock’s 50-day simple moving average is $364.64 and its two-hundred day simple moving average is $346.29. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer directly owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the sale, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. The trade was a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 74,477 shares of company stock worth $27,095,756. 3.90% of the stock is owned by insiders.

Snap-On Company Profile

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.