Absher Wealth Management LLC Sells 15,179 Shares of Snap-On Incorporated $SNA

Absher Wealth Management LLC lessened its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 16.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,771 shares of the company's stock after selling 15,179 shares during the quarter. Snap-On accounts for about 3.4% of Absher Wealth Management LLC's investment portfolio, making the stock its 15th biggest holding. Absher Wealth Management LLC owned about 0.15% of Snap-On worth $28,611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Snap-On in the fourth quarter valued at about $25,000. DV Equities LLC acquired a new stake in Snap-On in the 4th quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in Snap-On in the 4th quarter valued at approximately $28,000. Montag A & Associates Inc. lifted its stake in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Finally, Quattro Advisors LLC bought a new position in shares of Snap-On during the 4th quarter worth approximately $35,000. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

SNA has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 target price for the company. Finally, Roth Capital reissued a "buy" rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $387.67.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 1,330 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the sale, the chief financial officer owned 118,158 shares in the company, valued at approximately $44,813,784.66. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president directly owned 4,529 shares of the company's stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,117 shares of company stock worth $14,003,922 in the last quarter. Insiders own 3.80% of the company's stock.

Snap-On Stock Up 0.1%

Snap-On stock opened at $402.16 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The company's 50-day moving average is $382.99 and its 200-day moving average is $374.70. The firm has a market capitalization of $20.83 billion, a PE ratio of 20.76, a P/E/G ratio of 2.83 and a beta of 0.73. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $414.62.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.51 EPS. Sell-side analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. Snap-On's payout ratio is presently 50.39%.

Snap-On declared that its board has approved a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Snap-On Profile

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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