Planned Solutions Inc. Makes New $230,000 Investment in Snap-on Incorporated (NYSE:SNA)

Planned Solutions Inc. acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 795 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Clear Street Markets LLC raised its position in shares of Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after buying an additional 52 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Snap-on during the fourth quarter worth about $33,000. Parkside Financial Bank & Trust boosted its holdings in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after purchasing an additional 47 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Snap-on during the 4th quarter valued at about $43,000. Finally, Quarry LP lifted its position in Snap-on by 384.4% in the 2nd quarter. Quarry LP now owns 155 shares of the company’s stock worth $45,000 after buying an additional 123 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNA has been the subject of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Thursday, February 8th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $306.00.

Snap-on Stock Up 2.1 %

SNA opened at $296.94 on Thursday. The firm’s fifty day moving average is $283.38 and its 200 day moving average is $274.79. Snap-on Incorporated has a fifty-two week low of $226.68 and a fifty-two week high of $297.61. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.42 EPS. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.21 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.51%. Snap-on’s payout ratio is 39.68%.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,664 shares of company stock worth $13,189,544. 4.10% of the stock is currently owned by insiders.

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.