644 Shares in Snap-on Incorporated (NYSE:SNA) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 644 shares of the company’s stock, valued at approximately $219,000.

Several other large investors also recently modified their holdings of SNA. UMB Bank n.a. lifted its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Snap-on in the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of Snap-on during the third quarter worth $39,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-on during the fourth quarter worth $40,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Down 1.9 %

Shares of NYSE:SNA opened at $329.09 on Friday. The company’s 50-day moving average price is $340.12 and its two-hundred day moving average price is $333.11. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $17.25 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the firm earned $4.75 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial upped their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Snap-on presently has an average rating of “Hold” and an average target price of $346.40.

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.