Journey Strategic Wealth LLC Purchases New Shares in Snap-on Incorporated (NYSE:SNA)

Journey Strategic Wealth LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,178 shares of the company’s stock, valued at approximately $400,000.

A number of other large investors have also modified their holdings of the company. Creative Planning raised its holdings in Snap-on by 16.8% in the 2nd quarter. Creative Planning now owns 9,463 shares of the company’s stock worth $2,473,000 after purchasing an additional 1,361 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Snap-on by 18.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,612 shares of the company’s stock worth $944,000 after buying an additional 556 shares during the period. Quarry LP lifted its position in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Truist Financial Corp grew its stake in Snap-on by 3.8% in the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $5,080,000 after acquiring an additional 703 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,192 shares of company stock valued at $11,400,978. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 1.0 %

SNA opened at $355.10 on Monday. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company’s 50 day simple moving average is $349.97 and its two-hundred day simple moving average is $316.93. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Wall Street Analyst Weigh In

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

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.