Expressive Wealth LLC Takes Position in Snap-On Incorporated $SNA

Expressive Wealth LLC purchased a new position in Snap-On Incorporated (NYSE:SNA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,562 shares of the company’s stock, valued at approximately $629,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DV Equities LLC purchased a new position in Snap-On during the fourth quarter valued at $25,000. Western Wealth Management LLC bought a new position in shares of Snap-On during the first quarter valued at $29,000. Montag A & Associates Inc. increased its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Quattro Advisors LLC purchased a new position in shares of Snap-On in the 4th quarter worth about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $415.00 target price on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Barclays assumed coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Finally, Roth Capital reissued a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $426.20.

Snap-On Trading Up 0.5%

Shares of NYSE:SNA opened at $393.11 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. The company has a market cap of $20.33 billion, a P/E ratio of 20.05, a PEG ratio of 2.75 and a beta of 0.73. The stock’s fifty day moving average price is $403.30 and its 200-day moving average price is $384.56.

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

Snap-On Dividend Announcement

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

Snap-On declared that its board has authorized a stock repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer owned 867,779 shares in the company, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the completion of the sale, the senior vice president owned 21,223 shares in the company, valued at $8,900,077.28. This represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 45,928 shares of company stock valued at $18,483,009. Company insiders own 3.80% of the company’s stock.

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.