Trueblood Wealth Management LLC Has $1.35 Million Stake in Snap-On Incorporated $SNA

Trueblood Wealth Management LLC lifted its position in shares of Snap-On Incorporated (NYSE:SNA) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,338 shares of the company’s stock after acquiring an additional 253 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Snap-On were worth $1,350,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNA. NBC Securities Inc. acquired a new stake in shares of Snap-On during the 1st quarter valued at $192,000. Merit Financial Group LLC boosted its holdings in shares of Snap-On by 23.7% during the 1st quarter. Merit Financial Group LLC now owns 1,497 shares of the company’s stock valued at $504,000 after acquiring an additional 287 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Snap-On by 5.3% during the 1st quarter. First Citizens Bank & Trust Co. now owns 33,794 shares of the company’s stock valued at $11,389,000 after acquiring an additional 1,705 shares in the last quarter. Portside Wealth Group LLC grew its holdings in Snap-On by 4.6% during the 1st quarter. Portside Wealth Group LLC now owns 3,078 shares of the company’s stock worth $1,037,000 after acquiring an additional 134 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Snap-On by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company’s stock worth $703,000 after acquiring an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Down 1.9%

Shares of NYSE SNA opened at $340.88 on Tuesday. The company has a market capitalization of $17.78 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. Snap-On Incorporated has a 52-week low of $284.38 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The company’s 50 day moving average price is $330.22 and its 200-day moving average price is $323.69.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.07 EPS. Equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s payout ratio is 45.65%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Tigress Financial boosted their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Saturday, September 27th. Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $357.00.

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.