Snap-On Incorporated $SNA Shares Acquired by Joule Financial LLC

Joule Financial LLC increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 56.7% in the second quarter, Holdings Channel reports. The firm owned 965 shares of the company’s stock after buying an additional 349 shares during the quarter. Joule Financial LLC’s holdings in Snap-On were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. purchased a new position in shares of Snap-On during the first quarter worth about $192,000. Merit Financial Group LLC grew its stake in shares of Snap-On by 23.7% in the 1st quarter. Merit Financial Group LLC now owns 1,497 shares of the company’s stock valued at $504,000 after purchasing an additional 287 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Snap-On by 3.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,562 shares of the company’s stock valued at $863,000 after purchasing an additional 97 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Snap-On by 1.6% in the first quarter. Park Avenue Securities LLC now owns 31,400 shares of the company’s stock valued at $10,582,000 after purchasing an additional 483 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Snap-On by 5.3% during the first quarter. First Citizens Bank & Trust Co. now owns 33,794 shares of the company’s stock worth $11,389,000 after purchasing an additional 1,705 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 in the last ninety days. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SNA shares. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Saturday, September 27th. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $357.00.

Snap-On Stock Performance

SNA opened at $347.39 on Monday. Snap-On Incorporated has a 1-year low of $284.38 and a 1-year high of $373.89. The stock has a market cap of $18.12 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.42 and a beta of 0.78. The stock’s 50 day simple moving average is $329.92 and its 200 day simple moving average is $323.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.Snap-On’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.07 earnings per share. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is presently 45.65%.

Snap-On Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.