4,824 Shares in Snap-on Incorporated (NYSE:SNA) Purchased by Procyon Advisors LLC

Procyon Advisors LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,824 shares of the company's stock, valued at approximately $1,498,000.

Several other hedge funds have also recently bought and sold shares of SNA. Vest Financial LLC increased its stake in shares of Snap-on by 26.9% during the first quarter. Vest Financial LLC now owns 130,651 shares of the company's stock worth $44,031,000 after purchasing an additional 27,664 shares during the period. Matrix Trust Co grew its holdings in Snap-on by 45.7% in the 1st quarter. Matrix Trust Co now owns 405 shares of the company's stock valued at $136,000 after buying an additional 127 shares in the last quarter. Portside Wealth Group LLC grew its holdings in Snap-on by 4.8% in the 1st quarter. Portside Wealth Group LLC now owns 2,951 shares of the company's stock valued at $1,002,000 after buying an additional 136 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Snap-on by 3.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,562 shares of the company's stock worth $863,000 after buying an additional 97 shares during the period. Finally, Crestmont Private Wealth LLC lifted its holdings in shares of Snap-on by 9.3% during the first quarter. Crestmont Private Wealth LLC now owns 944 shares of the company's stock worth $318,000 after buying an additional 80 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In related news, Director Karen L. Daniel sold 1,090 shares of Snap-on stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director now directly owns 8,030 shares of the company's stock, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the transaction, the chief executive officer now directly owns 804,510 shares of the company's stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,515 shares of company stock valued at $17,094,296. Corporate insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Finally, Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Snap-on presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on Price Performance

Shares of NYSE:SNA opened at $321.91 on Friday. The firm has a 50 day moving average of $319.41 and a 200-day moving average of $335.92. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $16.83 billion, a PE ratio of 16.51, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $4.91 earnings per share. On average, equities research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.66%. Snap-on's payout ratio is 44.82%.

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.

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