Marshall Financial Group LLC Buys New Shares in Snap-On Incorporated $SNA

Marshall Financial Group LLC bought a new position in shares of Snap-On Incorporated (NYSE:SNA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,175 shares of the company’s stock, valued at approximately $750,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new stake in shares of Snap-On in the 3rd quarter valued at about $2,068,000. DNB Asset Management AS grew its holdings in Snap-On by 65.5% during the third quarter. DNB Asset Management AS now owns 23,702 shares of the company’s stock worth $8,213,000 after purchasing an additional 9,377 shares during the period. Bahl & Gaynor Inc. grew its holdings in Snap-On by 1.3% during the third quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock worth $132,126,000 after purchasing an additional 4,932 shares during the period. Norges Bank acquired a new position in Snap-On during the second quarter worth approximately $168,010,000. Finally, First Citizens Bank & Trust Co. raised its stake in Snap-On by 3.6% in the third quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company’s stock valued at $13,910,000 after buying an additional 1,404 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-On Price Performance

Shares of Snap-On stock opened at $362.53 on Tuesday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a 50-day simple moving average of $373.51 and a two-hundred day simple moving average of $353.06.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $4.82 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio is currently 50.86%.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,650 shares of company stock worth $15,210,959 in the last quarter. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Tigress Financial increased their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Roth Mkm reaffirmed a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Robert W. Baird set a $375.00 price objective on shares of Snap-On in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

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.