Evolve Private Wealth LLC Buys Shares of 10,756 Snap-On Incorporated $SNA

Evolve Private Wealth LLC acquired a new stake in Snap-On Incorporated (NYSE:SNA) during the second quarter, according to its most recent filing with the SEC. The firm acquired 10,756 shares of the company’s stock, valued at approximately $4,328,000.

Other institutional investors also recently bought and sold shares of the company. Madison Wealth Partners Inc purchased a new stake in shares of Snap-On in the second quarter valued at approximately $268,000. Forum Private Client Group LLC acquired a new stake in Snap-On in the second quarter valued at $678,000. Emerald Investment Advisers LLC purchased a new stake in shares of Snap-On during the 2nd quarter worth $2,208,000. Westpac Banking Corp purchased a new stake in shares of Snap-On during the 2nd quarter worth $5,302,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Snap-On during the 2nd quarter worth $1,044,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Up 0.5%

Shares of NYSE SNA opened at $393.11 on Friday. The firm has a market cap of $20.34 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. The firm’s 50 day moving average price is $403.30 and its 200 day moving average price is $384.56.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.72 earnings per share. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On announced that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Insider Buying and Selling

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the sale, the chief financial officer owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,928 shares of company stock worth $18,483,009 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of several research analyst reports. Tigress Financial boosted their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Finally, Roth Capital restated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Company 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.