Impact Partnership Wealth LLC Makes New Investment in Snap-On Incorporated (NYSE:SNA)

Impact Partnership Wealth LLC purchased a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,001 shares of the company's stock, valued at approximately $337,000.

Other large investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC raised its holdings in shares of Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock worth $1,414,000 after acquiring an additional 33 shares in the last quarter. Richwood Investment Advisors LLC grew its position in shares of Snap-On by 1.2% during the 4th quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company's stock worth $1,036,000 after buying an additional 35 shares in the last quarter. Centric Wealth Management grew its position in shares of Snap-On by 0.4% during the 4th quarter. Centric Wealth Management now owns 8,440 shares of the company's stock worth $2,865,000 after buying an additional 36 shares in the last quarter. Canandaigua National Trust Co of Florida grew its position in shares of Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock worth $241,000 after buying an additional 37 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in Snap-On by 3.4% during the fourth quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the company'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 transaction, the director directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the transaction, the chief financial officer owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,815 shares of company stock worth $9,482,532. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SNA shares. Robert W. Baird set a $347.00 price objective on Snap-On and gave the company a "neutral" rating in a report on Friday. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Bank of America boosted their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, 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 report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Snap-On currently has a consensus rating of "Moderate Buy" and a consensus price target of $356.17.

Snap-On Stock Up 1.2%

Shares of SNA traded up $4.08 during mid-day trading on Tuesday, reaching $332.47. The company's stock had a trading volume of 170,415 shares, compared to its average volume of 369,745. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1 year low of $266.56 and a 1 year high of $373.90. The business has a fifty day moving average of $318.89 and a 200 day moving average of $327.69. The company has a market cap of $17.34 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76.

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

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Tuesday, May 20th. Snap-On's payout ratio is 45.65%.

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.