Allen Mooney & Barnes Investment Advisors LLC Acquires 50 Shares of Snap-on Incorporated (NYSE:SNA)

Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 763 shares of the company’s stock after buying an additional 50 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Snap-on were worth $257,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNA. GAMMA Investing LLC increased its holdings in shares of Snap-on by 65,113.6% during the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock valued at $236,919,000 after acquiring an additional 701,925 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Snap-on during the fourth quarter worth approximately $148,839,000. Norges Bank acquired a new position in Snap-on during the fourth quarter valued at approximately $145,342,000. First Trust Advisors LP grew its holdings in Snap-on by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after purchasing an additional 411,317 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Snap-on in the fourth quarter valued at approximately $57,738,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Performance

NYSE SNA opened at $320.24 on Thursday. The company’s fifty day moving average is $318.98 and its two-hundred day moving average is $335.08. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week 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 firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $4.91 earnings per share. Equities research analysts forecast 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, June 10th. Stockholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Tuesday, May 20th. Snap-on’s payout ratio is presently 44.82%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Tigress Financial boosted 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. Finally, Robert W. Baird lowered their target price on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and an average price target of $350.83.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer now owns 804,510 shares of the company’s stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director now directly owns 8,030 shares of the company’s stock, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,515 shares of company stock worth $17,094,296. Company 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.