Centric Wealth Management Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Centric Wealth Management increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,440 shares of the company’s stock after buying an additional 36 shares during the quarter. Centric Wealth Management’s holdings in Snap-on were worth $2,865,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Snap-on by 103.5% in the third quarter. Cerity Partners LLC now owns 8,156 shares of the company’s stock valued at $2,363,000 after purchasing an additional 4,149 shares during the period. The Manufacturers Life Insurance Company raised its stake in Snap-on by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company’s stock valued at $12,742,000 after acquiring an additional 273 shares during the last quarter. FMR LLC lifted its position in Snap-on by 16.3% during the 3rd quarter. FMR LLC now owns 57,543 shares of the company’s stock worth $16,671,000 after acquiring an additional 8,073 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Snap-on by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock valued at $675,000 after purchasing an additional 300 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Snap-on by 3.5% in the third quarter. Captrust Financial Advisors now owns 8,738 shares of the company’s stock valued at $2,532,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Monday. Finally, Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $355.33.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $337.25 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The firm has a market capitalization of $17.68 billion, a P/E ratio of 17.29, a PEG ratio of 2.21 and a beta of 0.99. The company’s fifty day moving average is $339.90 and its two-hundred day moving average is $334.34.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the company earned $4.75 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

About Snap-on

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.