Procyon Advisors LLC Has $4.97 Million Stake in Snap-On Incorporated $SNA

Procyon Advisors LLC increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 68.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,423 shares of the company’s stock after buying an additional 5,867 shares during the quarter. Procyon Advisors LLC’s holdings in Snap-On were worth $4,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after acquiring an additional 1,185 shares in the last quarter. Woodline Partners LP increased its position in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares during the last quarter. Creative Planning raised its stake in shares of Snap-On by 4.0% during the 2nd quarter. Creative Planning now owns 12,316 shares of the company’s stock worth $3,832,000 after purchasing an additional 477 shares in the last quarter. Vanguard Group Inc. raised its position in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after acquiring an additional 80,422 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Snap-On by 4.2% in the second quarter. TD Waterhouse Canada Inc. now owns 3,318 shares of the company’s stock worth $1,055,000 after acquiring an additional 134 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Trading Down 1.0%

Shares of Snap-On stock opened at $357.03 on Friday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company’s fifty day simple moving average is $373.42 and its 200-day simple moving average is $352.60. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.46 and a beta of 0.78. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company earned $4.82 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect 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 Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a $2.44 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Transactions at Snap-On

In related news, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president directly owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,650 shares of company stock worth $15,210,959 over the last quarter. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent research reports. Tigress Financial raised their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Roth Mkm reissued a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Finally, Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five 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 MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $377.33.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.