Absher Wealth Management LLC Has $25.68 Million Stock Position in Snap-On Incorporated (NYSE:SNA)

Absher Wealth Management LLC boosted its position in Snap-On Incorporated (NYSE:SNA) by 7.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 76,207 shares of the company’s stock after purchasing an additional 5,398 shares during the period. Snap-On comprises 3.4% of Absher Wealth Management LLC’s holdings, making the stock its 15th largest position. Absher Wealth Management LLC owned about 0.15% of Snap-On worth $25,683,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ethic Inc. raised its holdings in Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock valued at $3,127,000 after acquiring an additional 1,445 shares during the period. Assetmark Inc. raised its holdings in Snap-On by 4.0% in the 4th quarter. Assetmark Inc. now owns 136,472 shares of the company’s stock valued at $46,330,000 after acquiring an additional 5,187 shares during the period. Amundi raised its holdings in Snap-On by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after acquiring an additional 116,319 shares during the period. Geode Capital Management LLC raised its holdings in Snap-On by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock valued at $556,022,000 after acquiring an additional 27,700 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Snap-On in the 4th quarter valued at about $148,839,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Down 0.4%

Shares of SNA opened at $305.61 on Friday. Snap-On Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm’s 50 day moving average is $317.36 and its 200-day moving average is $332.00. The stock has a market capitalization of $15.98 billion, a PE ratio of 16.00, a P/E/G ratio of 2.18 and a beta of 0.78. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter in the prior year, the business posted $4.91 EPS. Equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.80%. Snap-On’s dividend payout ratio is 44.82%.

Wall Street Analyst Weigh In

SNA has been the topic of several research analyst reports. Tigress Financial increased their price target on shares of Snap-On from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Robert W. Baird lowered their target price on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Monday, May 19th. Finally, Longbow Research raised shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.83.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,515 shares of company stock worth $17,094,296. Corporate insiders own 3.90% of the company’s stock.

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.