Modern Wealth Management LLC Purchases New Position in Snap-on Incorporated (NYSE:SNA)

Modern Wealth Management LLC acquired a new position in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, Holdings Channel.com reports. The firm acquired 644 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC acquired a new stake in Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC lifted its holdings in shares of Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after buying an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after acquiring an additional 1,605 shares during the period. World Investment Advisors LLC acquired a new position in shares of Snap-on in the third quarter valued at about $19,291,000. Finally, Avanza Fonder AB bought a new position in Snap-on during the fourth quarter worth about $1,936,000. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% of the company’s stock.

Snap-on Trading Down 1.9 %

SNA opened at $329.09 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a 50-day simple moving average of $340.12 and a 200 day simple moving average of $333.11.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the firm posted $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. Snap-on’s payout ratio is 43.90%.

Analysts Set New Price Targets

SNA has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $346.40.

Snap-on 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.