Drucker Wealth 3.0 LLC Invests $360,000 in Snap-On Incorporated $SNA

Drucker Wealth 3.0 LLC acquired a new position in Snap-On Incorporated (NYSE:SNA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,132 shares of the company’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Investments LLC raised its stake in shares of Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock worth $261,000 after buying an additional 32 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock worth $1,553,000 after buying an additional 32 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after buying an additional 34 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Snap-On by 28.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock worth $49,000 after buying an additional 35 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its holdings in shares of 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 acquiring an additional 37 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of SNA stock opened at $327.21 on Friday. Snap-On Incorporated has a 1-year low of $287.44 and a 1-year high of $373.89. 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 has a market capitalization of $17.07 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.28 and a beta of 0.78. The stock’s fifty day simple moving average is $331.20 and its 200-day simple moving average is $323.70.

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

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s payout ratio is currently 45.65%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Snap-On 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.