Snap-on Incorporated (NYSE:SNA) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 794 shares of the company’s stock after selling 142 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Snap-on were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Scarborough Advisors LLC purchased a new position in shares of Snap-on during the fourth quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on during the 2nd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at about $32,000. Versant Capital Management Inc boosted its stake in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Snap-on during the first quarter worth about $56,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Tigress Financial reissued a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Robert W. Baird lowered their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.00.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock valued at $8,077,390 over the last 90 days. 4.10% of the stock is owned by insiders.

Snap-on Price Performance

Snap-on stock opened at $288.51 on Friday. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.97 and a beta of 0.98. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a fifty day simple moving average of $278.51 and a 200-day simple moving average of $276.41.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company earned $4.89 EPS. On average, equities analysts anticipate that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.