Snap-On Incorporated $SNA Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC reduced its stake in Snap-On Incorporated by 73.9% during the 2nd quarter, now holding 1,212 shares valued at approximately $377,000.
• Snap-On reported a quarterly EPS of $4.71, exceeding estimates, with a revenue of $1.19 billion, marking a 3.8% year-over-year increase.
• The company declared a quarterly dividend of $2.14 per share, reflecting an annualized dividend yield of 2.5% and a payout ratio of 45.65%.

Apollon Wealth Management LLC reduced its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 73.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,212 shares of the company's stock after selling 3,426 shares during the period. Apollon Wealth Management LLC's holdings in Snap-On were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Snap-On by 6.4% during the first 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 during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snap-On during the 2nd quarter valued at about $434,938,000. Auto Owners Insurance Co increased its stake in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. Northern Trust Corp increased its stake in shares of Snap-On by 5.4% during the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company's stock valued at $283,668,000 after acquiring an additional 43,467 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Snap-On by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company's stock valued at $261,023,000 after purchasing an additional 15,097 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Performance

NYSE:SNA opened at $339.61 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.42. The firm has a 50-day moving average of $332.77 and a two-hundred day moving average of $323.84. The stock has a market cap of $17.71 billion, a P/E ratio of 17.81, a PEG ratio of 2.39 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $4.70 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given 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 dividend yield of 2.5%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday. Roth Capital reaffirmed a "buy" rating and issued a $385.00 target price on shares of Snap-On in a research report on Friday. Robert W. Baird upped their price target on Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, 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 report on Friday, July 18th. Six 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $363.57.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction on Monday, August 11th. The shares were 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 in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock valued at $8,983,203 in the last three months. Corporate insiders own 3.90% of the company's stock.

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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