Berry Wealth Group LP Takes Position in Snap-On Incorporated (NYSE:SNA)

Berry Wealth Group LP purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 835 shares of the company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Snap-On in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On in the first quarter valued at approximately $35,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-On in the fourth quarter valued at approximately $40,000. TCTC Holdings LLC boosted its position in shares of Snap-On by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after acquiring an additional 43 shares during the period. Finally, ORG Partners LLC boosted its position in shares of Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now owns 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock worth $9,482,532 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Robert W. Baird reduced their target price on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Tigress Financial raised their target price on Snap-On from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One 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. According to data from MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-On Price Performance

Snap-On stock traded up $1.22 during mid-day trading on Friday, hitting $310.77. 412,947 shares of the company were exchanged, compared to its average volume of 369,535. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $315.94 and a 200 day moving average of $330.52. Snap-On Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company has a market capitalization of $16.25 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $4.91 earnings per share. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.75%. Snap-On's dividend payout ratio is currently 44.82%.

Snap-On 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.