MOKAN Wealth Management Inc. Acquires 844 Shares of Snap-On Incorporated $SNA

Key Points

• MOKAN Wealth Management Inc. increased its holdings in Snap-On Incorporated by 15.0% during the second quarter, acquiring an additional 844 shares, bringing its total holdings to 6,471 shares valued at $2,014,000.
• Insider transactions saw CEO Nicholas T. Pinchuk sell 23,042 shares for approximately $7.39 million, resulting in a 2.75% decrease in his position.
• Snap-On announced a quarterly dividend of $2.14 per share, which represents an annualized dividend of $8.56 and a yield of 2.6%.

MOKAN Wealth Management Inc. grew its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 15.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,471 shares of the company's stock after buying an additional 844 shares during the period. MOKAN Wealth Management Inc.'s holdings in Snap-On were worth $2,014,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap-On by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock worth $647,593,000 after buying an additional 115,306 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Snap-On in the 2nd quarter worth $434,938,000. Auto Owners Insurance Co lifted its holdings in shares of Snap-On by 35,967.2% in the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock worth $361,612,000 after purchasing an additional 1,070,025 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Snap-On by 5.4% in the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company's stock worth $283,668,000 after purchasing an additional 43,467 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Snap-On by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company's stock worth $261,023,000 after purchasing an additional 15,097 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 value of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by insiders.

Snap-On Trading Down 1.4%

Shares of Snap-On stock opened at $327.21 on Monday. Snap-On Incorporated has a 1 year low of $287.44 and a 1 year high of $373.89. The firm has a market cap of $17.07 billion, a PE ratio of 17.45, a P/E/G ratio of 2.27 and a beta of 0.78. The stock has a fifty day moving average price of $331.20 and a 200-day moving average price of $323.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $5.07 EPS. The business's revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On's dividend payout ratio (DPR) is 45.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, September 23rd. Robert W. Baird increased their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Finally, Tigress Financial raised their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Five 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 stock. According to data from MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

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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