DRW Securities LLC Purchases Shares of 972 Snap-On Incorporated $SNA

Key Points

• DRW Securities LLC has acquired 972 shares of Snap-On Incorporated, investing approximately $328,000 in the company's stock during the first quarter.
• Snap-On recently announced a quarterly dividend of $2.14 per share, reflecting a 2.6% dividend yield for investors.
• Analysts have given Snap-On a consensus rating of "Moderate Buy" with a price target averaging $357.00, reflecting positive sentiment for future growth.

DRW Securities LLC acquired a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 972 shares of the company's stock, valued at approximately $328,000.

Several other hedge funds also recently modified their holdings of SNA. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Snap-On in the 1st quarter valued at about $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Trading Down 0.0%

Shares of NYSE:SNA traded down $0.12 during mid-day trading on Friday, reaching $328.65. The stock had a trading volume of 157,227 shares, compared to its average volume of 212,322. The firm has a market cap of $17.14 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The firm has a 50 day simple moving average of $323.96 and a two-hundred day simple moving average of $323.33. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The business's revenue was up .0% on a year-over-year basis. On average, research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. Snap-On's payout ratio is presently 45.65%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,898 shares of company stock worth $8,983,203. Insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Robert W. Baird raised their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four research 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, Snap-On presently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

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.