Procyon Advisors LLC Acquires 1,730 Shares of Snap-On Incorporated $SNA

Procyon Advisors LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 25.3% during the third quarter, HoldingsChannel reports. The firm owned 8,556 shares of the company’s stock after purchasing an additional 1,730 shares during the quarter. Procyon Advisors LLC’s holdings in Snap-On were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. Tobam purchased a new stake in Snap-On in the second quarter worth $29,000. Ameritas Advisory Services LLC bought a new position in shares of Snap-On during the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Up 0.4%

SNA opened at $362.13 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a one year low of $289.81 and a one year high of $366.17. The firm has a market capitalization of $18.83 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.53 and a beta of 0.80. The company has a fifty day moving average price of $345.99 and a 200-day moving average price of $336.02.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $4.70 earnings per share. Equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNA. Tigress Financial boosted their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Robert W. Baird lifted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Roth Capital reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares in the company, valued at $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the transaction, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 40,036 shares of company stock valued at $13,710,988. Company insiders own 3.90% 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.