Eads & Heald Wealth Management Buys 131 Shares of Snap-On Incorporated $SNA

Eads & Heald Wealth Management grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 2.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,653 shares of the company’s stock after purchasing an additional 131 shares during the quarter. Eads & Heald Wealth Management’s holdings in Snap-On were worth $1,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC boosted its stake in Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after purchasing an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC boosted its position in shares of Snap-On by 0.7% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after acquiring an additional 32 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after acquiring an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Snap-On by 28.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock worth $49,000 after acquiring an additional 35 shares during the period. Finally, Canandaigua National Trust Co of Florida raised its stake in Snap-On by 5.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock worth $241,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred 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 sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 over the last three months. Insiders own 3.90% of the company’s stock.

Snap-On Trading Down 0.5%

SNA opened at $347.39 on Monday. The company has a market cap of $18.12 billion, a P/E ratio of 18.53, a PEG ratio of 2.42 and a beta of 0.78. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $329.92 and its 200-day moving average is $323.60. Snap-On Incorporated has a 1-year low of $284.38 and a 1-year high of $373.89.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion during 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 firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.07 EPS. Equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 45.65%.

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.