Connecticut Wealth Management LLC Acquires 4,460 Shares of Snap-on Incorporated (NYSE:SNA)

Connecticut Wealth Management LLC lifted its stake in Snap-on Incorporated (NYSE:SNA) by 266.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,134 shares of the company’s stock after acquiring an additional 4,460 shares during the period. Connecticut Wealth Management LLC’s holdings in Snap-on were worth $1,772,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SNA. National Bank of Canada FI increased its position in shares of Snap-on by 9.0% during the fourth quarter. National Bank of Canada FI now owns 19,116 shares of the company’s stock valued at $5,518,000 after buying an additional 1,573 shares during the period. LSV Asset Management grew its stake in Snap-on by 0.6% during the fourth quarter. LSV Asset Management now owns 670,806 shares of the company’s stock valued at $193,756,000 after acquiring an additional 4,010 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after acquiring an additional 137,920 shares during the period. SouthState Corp lifted its stake in Snap-on by 7.4% in the 4th quarter. SouthState Corp now owns 19,226 shares of the company’s stock worth $5,553,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Snap-on by 22.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 19,722 shares of the company’s stock valued at $5,697,000 after purchasing an additional 3,578 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the completion of the transaction, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Jesus Arregui sold 2,562 shares of Snap-on stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now directly owns 8,663 shares in the company, valued at $2,333,379.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,930 shares of company stock valued at $14,089,523. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Up 1.6 %

SNA stock traded up $4.16 during midday trading on Friday, hitting $271.03. The company had a trading volume of 262,537 shares, compared to its average volume of 341,144. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.84 and a beta of 1.00. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $284.25 and its 200 day moving average price is $279.14.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 earnings per share. As a group, equities research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNA. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird lowered their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Tigress Financial reissued a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and an average price target of $316.75.

About Snap-on

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.