Centric Wealth Management Acquires 484 Shares of Snap-on Incorporated (NYSE:SNA)

Centric Wealth Management boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,030 shares of the company’s stock after purchasing an additional 484 shares during the period. Centric Wealth Management’s holdings in Snap-on were worth $2,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Brown Advisory Inc. increased its position in shares of Snap-on by 0.5% during the third quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock valued at $5,582,000 after purchasing an additional 114 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Snap-on by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock valued at $415,000 after purchasing an additional 80 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Snap-on by 3.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,082 shares of the company’s stock valued at $17,365,000 after purchasing an additional 2,476 shares during the period. Mackenzie Financial Corp increased its position in shares of Snap-on by 2.2% during the third quarter. Mackenzie Financial Corp now owns 4,271 shares of the company’s stock valued at $1,085,000 after purchasing an additional 90 shares during the period. Finally, Strs Ohio increased its position in shares of Snap-on by 6.5% during the third quarter. Strs Ohio now owns 9,831 shares of the company’s stock valued at $2,507,000 after purchasing an additional 604 shares during the period. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNA shares. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Robert W. Baird decreased their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Trading Down 0.3 %

Shares of SNA traded down $0.86 during trading hours on Wednesday, hitting $276.00. 89,583 shares of the stock traded hands, compared to its average volume of 308,482. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The firm has a market capitalization of $14.55 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The business has a fifty day moving average of $284.38 and a 200-day moving average of $279.81.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $4.60 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts expect that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.70%. Snap-on’s dividend payout ratio is presently 39.03%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is owned by insiders.

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.