Legacy Capital Wealth Partners LLC Acquires 110 Shares of Snap-on Incorporated (NYSE:SNA)

Legacy Capital Wealth Partners LLC increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,090 shares of the company’s stock after acquiring an additional 110 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Snap-on were worth $315,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Snap-on by 25.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after acquiring an additional 147,997 shares in the last quarter. FMR LLC increased its holdings in Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after purchasing an additional 107,582 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Snap-on by 388.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock valued at $32,560,000 after purchasing an additional 101,499 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Snap-on in the third quarter worth $23,490,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNA. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Finally, Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares in the company, valued at approximately $2,333,379.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares of the company’s stock, valued at approximately $2,333,379.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,930 shares of company stock worth $14,089,523. Insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.6 %

Shares of NYSE:SNA opened at $272.43 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.87 and a beta of 0.99. The company has a 50 day moving average of $284.28 and a 200-day moving average of $278.99. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.60 EPS. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, May 17th. Snap-on’s payout ratio is 39.03%.

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.