Apollon Wealth Management LLC Sells 1,811 Shares of Snap-on Incorporated (NYSE:SNA)

Apollon Wealth Management LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 24.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,564 shares of the company’s stock after selling 1,811 shares during the quarter. Apollon Wealth Management LLC’s holdings in Snap-on were worth $1,612,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNA. Mawer Investment Management Ltd. grew its position in Snap-on by 234.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after purchasing an additional 443,333 shares during the period. Pacer Advisors Inc. grew its position in Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares during the period. Millennium Management LLC grew its position in Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares during the period. International Assets Investment Management LLC grew its position in Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares during the period. Finally, Glassman Wealth Services bought a new stake in Snap-on in the 2nd quarter worth approximately $26,608,000. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,190 shares of company stock worth $8,212,284. Insiders own 4.10% of the company’s stock.

Snap-on Stock Down 1.0 %

SNA opened at $357.79 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $365.35. The firm’s fifty day moving average is $307.70 and its 200 day moving average is $284.36. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on announced that its board has authorized a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s payout ratio is currently 38.29%.

Analyst Ratings Changes

SNA has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $345.40.

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.