Tyche Wealth Partners LLC Makes New Investment in Snap-On Incorporated $SNA

Tyche Wealth Partners LLC bought a new position in Snap-On Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,555 shares of the company’s stock, valued at approximately $536,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Kennebec Savings Bank increased its position in Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after buying an additional 27 shares during the period. BankPlus Trust Department increased its position in Snap-On by 5.9% in the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock worth $187,000 after buying an additional 30 shares during the period. Nisa Investment Advisors LLC increased its position in Snap-On by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after buying an additional 31 shares during the period. Cardinal Capital Management increased its position in Snap-On by 0.3% in the third quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock worth $3,880,000 after buying an additional 32 shares during the period. Finally, Ritholtz Wealth Management increased its position in Snap-On by 2.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after buying an additional 34 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Trading Down 1.0%

Shares of SNA stock opened at $377.74 on Wednesday. The stock has a 50-day simple moving average of $374.05 and a 200 day simple moving average of $356.99. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The stock has a market capitalization of $19.67 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.63 and a beta of 0.77. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $4.82 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 117,183 shares of the company’s stock, valued at $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares of the company’s stock, valued at $324,538,008.32. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,650 shares of company stock worth $15,210,959. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Tigress Financial increased their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Robert W. Baird set a $375.00 price target on Snap-On in a report on Friday, February 6th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Snap-On 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.