Tempus Wealth Planning LLC Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

Tempus Wealth Planning LLC boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,072 shares of the company’s stock after purchasing an additional 86 shares during the period. Tempus Wealth Planning LLC’s holdings in Snap-on were worth $542,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter worth $30,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Snap-on in the fourth quarter worth $55,000. Fidelis Capital Partners LLC bought a new position in shares of Snap-on during the first quarter valued at $56,000. Finally, Versant Capital Management Inc boosted its position in shares of Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

SNA traded up $6.17 during trading on Friday, hitting $283.84. The company’s stock had a trading volume of 194,631 shares, compared to its average volume of 292,449. The business’s 50 day simple moving average is $270.34 and its 200-day simple moving average is $275.56. The firm has a market cap of $14.96 billion, a PE ratio of 14.89, a P/E/G ratio of 1.92 and a beta of 0.98. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. 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 (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. Snap-on’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.89 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.62%. Snap-on’s payout ratio is currently 39.03%.

Snap-on declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,272 shares of company stock worth $16,438,942. 4.10% of the stock is owned by company insiders.

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.