Expressive Wealth LLC Invests $629,000 in Snap-On Incorporated $SNA

Expressive Wealth LLC acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,562 shares of the company’s stock, valued at approximately $629,000.

Other large investors also recently modified their holdings of the company. Keebeck Wealth Management bought a new stake in Snap-On in the 2nd quarter worth approximately $361,000. Keating Financial Advisory Services Inc. bought a new position in Snap-On during the second quarter valued at approximately $45,000. Allworth Financial LP bought a new position in Snap-On during the second quarter valued at approximately $1,637,000. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Snap-On during the second quarter worth approximately $1,301,000. Finally, Advisors Capital Management LLC purchased a new position in shares of Snap-On during the second quarter worth approximately $521,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the sale, the chief executive officer owned 867,779 shares in the company, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,928 shares of company stock worth $18,483,009. 3.80% of the stock is owned by insiders.

Snap-On Trading Up 0.5%

NYSE:SNA opened at $393.11 on Friday. The company has a 50-day moving average price of $403.30 and a 200-day moving average price of $384.56. The stock has a market cap of $20.33 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.75 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company earned $4.72 earnings per share. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is currently 49.77%.

Wall Street Analyst Weigh In

Several research firms recently commented on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research report on Friday, July 24th. Tigress Financial upped their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Roth Capital reaffirmed a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.20.

About Snap-On

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.