Procyon Advisors LLC Acquires 1,284 Shares of Snap-On Incorporated $SNA

Procyon Advisors LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 8.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 15,707 shares of the company’s stock after buying an additional 1,284 shares during the quarter. Procyon Advisors LLC’s holdings in Snap-On were worth $5,705,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On in the fourth quarter worth $25,000. DV Equities LLC bought a new position in shares of Snap-On during the fourth quarter valued at about $25,000. GoalVest Advisory LLC purchased a new position in shares of Snap-On in the fourth quarter worth about $28,000. Montag A & Associates Inc. lifted its stake in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC bought a new stake in shares of Snap-On in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNA. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Roth Capital restated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Finally, Barclays began coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Five equities research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Price Performance

Shares of Snap-On stock opened at $402.16 on Monday. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The company has a market cap of $20.83 billion, a PE ratio of 20.76, a P/E/G ratio of 2.83 and a beta of 0.73. The business has a 50 day moving average of $382.99 and a 200 day moving average of $374.70. Snap-On Incorporated has a 52 week low of $310.23 and a 52 week high of $414.62.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 EPS. As a group, equities research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On declared that its board has approved a share buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 1,330 shares of Snap-On stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the sale, the chief financial officer owned 118,158 shares of the company’s stock, valued at approximately $44,813,784.66. The trade was a 1.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 4,251 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. This represents a 48.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 37,117 shares of company stock worth $14,003,922. 3.80% of the stock is currently owned by company insiders.

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.