Madison Wealth Partners Inc Purchases Shares of 795 Snap-On Incorporated $SNA

Key Points

• Madison Wealth Partners Inc purchased 795 shares of Snap-On Incorporated in the 2nd quarter, valuing the investment at approximately $247,000.
• Snap-On has recently experienced a 1.3% decline in stock price, opening at $339.61, but reported earnings per share of $4.71 for the quarter, exceeding analysts' expectations.
• The company declared a quarterly dividend of $2.14 per share, representing an annualized yield of 2.5% and a payout ratio of 44.89%.

Madison Wealth Partners Inc purchased a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 795 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Horizon Investments LLC raised its holdings in shares of Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after purchasing an additional 32 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its holdings in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock valued at $1,553,000 after purchasing an additional 32 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after purchasing an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Snap-On by 28.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company's stock valued at $49,000 after purchasing an additional 35 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida raised its holdings in shares of Snap-On by 5.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Down 1.3%

SNA stock opened at $339.61 on Monday. The company has a market cap of $17.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.36 and a beta of 0.78. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The company's 50-day moving average price is $332.77 and its 200 day moving average price is $323.68. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.70 earnings per share. On average, research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's payout ratio is currently 44.89%.

Analyst Ratings Changes

Several equities research analysts recently commented on SNA shares. Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird lifted their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a report on Friday. Roth Capital reaffirmed a "buy" rating and issued a $385.00 target price on shares of Snap-On in a report on Friday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $363.57.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company's stock, 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 90 days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by company insiders.

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.

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