Snap-On Incorporated $SNA Shares Purchased by JGP Wealth Management LLC

JGP Wealth Management LLC boosted its position in Snap-On Incorporated (NYSE:SNA) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,117 shares of the company’s stock after purchasing an additional 50 shares during the period. JGP Wealth Management LLC’s holdings in Snap-On were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Horizon Investments LLC lifted its position in Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after purchasing an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its position in Snap-On by 0.7% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after purchasing an additional 32 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after purchasing an additional 34 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Snap-On by 28.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after purchasing an additional 35 shares during the period. Finally, Canandaigua National Trust Co of Florida lifted its position in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock valued at $241,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Trading Up 1.5%

Shares of SNA opened at $337.00 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm has a 50 day simple moving average of $331.78 and a 200-day simple moving average of $323.73. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted $5.07 EPS. The company’s revenue was up .0% on a year-over-year basis. Equities analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 45.65%.

Analyst Ratings Changes

SNA has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, September 23rd. Finally, Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.00.

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.