Connecticut Wealth Management LLC Purchases 4,460 Shares of Snap-on Incorporated (NYSE:SNA)

Connecticut Wealth Management LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 266.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,134 shares of the company's stock after purchasing an additional 4,460 shares during the period. Connecticut Wealth Management LLC's holdings in Snap-on were worth $1,772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. Royal London Asset Management Ltd. lifted its stake in shares of Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company's stock valued at $5,751,000 after purchasing an additional 2,542 shares during the period. Caprock Group LLC purchased a new stake in shares of Snap-on during the 4th quarter worth approximately $1,203,000. Cerity Partners LLC grew its holdings in shares of Snap-on by 275.7% in the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company's stock worth $2,292,000 after acquiring an additional 5,825 shares during the period. Vision Capital Management Inc. purchased a new position in Snap-on in the 4th quarter valued at approximately $2,377,000. Finally, Raymond James & Associates increased its stake in Snap-on by 3.9% in the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company's stock valued at $102,584,000 after purchasing an additional 13,225 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company's stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Jesus Arregui sold 2,562 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the sale, the senior vice president now owns 8,663 shares in the company, valued at approximately $2,333,379.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company's stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock worth $14,089,523 in the last 90 days. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNA. Barrington Research reissued an "outperform" rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Roth Mkm restated a "buy" rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Tigress Financial reaffirmed a "buy" rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Finally, Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on presently has an average rating of "Moderate Buy" and a consensus price target of $316.75.

Snap-on Trading Up 1.6 %

Shares of NYSE SNA traded up $4.16 during midday trading on Friday, reaching $271.03. 262,537 shares of the stock were exchanged, compared to its average volume of 341,144. The stock has a 50 day moving average price of $284.25 and a 200-day moving average price of $279.28. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $14.29 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.84 and a beta of 1.00. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company earned $4.60 EPS. Snap-on's revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, May 17th. Snap-on's payout ratio is 39.03%.

Snap-on Company 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.