FSM Wealth Advisors LLC Takes Position in Snap-On Incorporated $SNA

FSM Wealth Advisors LLC bought a new position in Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 650 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC boosted its position in Snap-On by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company’s stock worth $703,000 after acquiring an additional 1,008 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Snap-On by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,982 shares of the company’s stock worth $5,386,000 after purchasing an additional 689 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Snap-On by 1.6% during the first quarter. Asset Management One Co. Ltd. now owns 21,642 shares of the company’s stock worth $7,294,000 after purchasing an additional 346 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Finally, Alpine Bank Wealth Management purchased a new position in Snap-On during the first quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE:SNA opened at $344.10 on Friday. The stock has a market capitalization of $17.90 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.40 and a beta of 0.78. The business has a 50-day moving average of $334.54 and a two-hundred day moving average of $324.63. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted $4.70 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is 44.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Tigress Financial increased their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Capital reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday. Finally, Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,898 shares of company stock worth $8,983,203. Company insiders own 3.90% of the company’s stock.

About Snap-On

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.