Hennion & Walsh Asset Management Inc. Buys New Stake in Snap-on Incorporated (NYSE:SNA)

Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,425 shares of the company’s stock, valued at approximately $422,000.

Several other institutional investors and hedge funds have also modified their holdings of SNA. Scarborough Advisors LLC purchased a new position in Snap-on during the fourth quarter valued at $30,000. BKM Wealth Management LLC purchased a new position in Snap-on in the 4th quarter valued at about $33,000. Exchange Traded Concepts LLC acquired a new stake in Snap-on in the 4th quarter worth about $43,000. Fortitude Family Office LLC purchased a new stake in Snap-on during the 4th quarter worth approximately $49,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Snap-on during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the transaction, the senior vice president now owns 252 shares of the company’s stock, valued at $66,822.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,632 shares of company stock worth $10,353,409. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNA. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Wednesday, May 22nd. Robert W. Baird dropped their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Stock Down 0.1 %

Shares of NYSE:SNA opened at $256.85 on Thursday. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The stock has a market cap of $13.54 billion, a P/E ratio of 13.48, a PEG ratio of 1.81 and a beta of 0.98. The business has a fifty day moving average of $269.76 and a two-hundred day moving average of $279.32. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $4.60 earnings per share. Snap-on’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s payout ratio is presently 39.03%.

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.