Absher Wealth Management LLC Grows Stake in Snap-On Incorporated (NYSE:SNA)

Absher Wealth Management LLC increased its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,207 shares of the company's stock after acquiring an additional 5,398 shares during the quarter. Snap-On comprises 3.4% of Absher Wealth Management LLC's holdings, making the stock its 15th largest holding. Absher Wealth Management LLC owned about 0.15% of Snap-On worth $25,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York Life Investment Management LLC increased its holdings in shares of Snap-On by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after acquiring an additional 31 shares in the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Snap-On by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after buying an additional 33 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Snap-On by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after buying an additional 34 shares during the last quarter. Richwood Investment Advisors LLC boosted its position in shares of Snap-On by 1.2% during the fourth quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company's stock valued at $1,036,000 after buying an additional 35 shares during the last quarter. Finally, Centric Wealth Management boosted its position in shares of Snap-On by 0.4% during the fourth quarter. Centric Wealth Management now owns 8,440 shares of the company's stock valued at $2,865,000 after buying an additional 36 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNA shares. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird cut their target price on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Tigress Financial lifted their target price on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-On Stock Performance

SNA stock traded down $1.21 during midday trading on Friday, hitting $305.61. The company's stock had a trading volume of 937,056 shares, compared to its average volume of 368,900. The stock's 50-day moving average price is $317.36 and its 200 day moving average price is $331.80. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.18 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm posted $4.91 EPS. On average, equities analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.80%. Snap-On's dividend payout ratio is presently 44.82%.

Insider Activity

In related news, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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 in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,515 shares of company stock valued at $17,094,296 in the last 90 days. Insiders own 3.90% of the company's stock.

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.