Apollon Wealth Management LLC Lowers Stock Position in Snap-on Incorporated (NYSE:SNA)

Apollon Wealth Management LLC decreased its stake in Snap-on Incorporated (NYSE:SNA) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,564 shares of the company’s stock after selling 1,811 shares during the period. Apollon Wealth Management LLC’s holdings in Snap-on were worth $1,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SNA. Opal Wealth Advisors LLC bought a new position in Snap-on in the second quarter valued at $30,000. Reston Wealth Management LLC bought a new position in Snap-on in the third quarter valued at $30,000. Innealta Capital LLC bought a new position in Snap-on in the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV increased its stake in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP increased its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNA shares. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Snap-on stock opened at $357.79 on Friday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $307.70 and a 200-day moving average of $284.36. The firm has a market cap of $18.79 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.38 and a beta of 0.96. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Sell-side analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.39%. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Snap-on announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. 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 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,190 shares of company stock valued at $8,212,284. Corporate insiders own 4.10% of the company’s stock.

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.