Apollon Wealth Management LLC Sells 1,811 Shares of Snap-on Incorporated (NYSE:SNA)

Apollon Wealth Management LLC lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 24.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,564 shares of the company's stock after selling 1,811 shares during the quarter. Apollon Wealth Management LLC's holdings in Snap-on were worth $1,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in Snap-on in the second quarter worth approximately $30,000. Reston Wealth Management LLC purchased a new stake in Snap-on in the 3rd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Snap-on in the second quarter valued at about $32,000. Massmutual Trust Co. FSB ADV increased its position in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Snap-on Stock Performance

SNA traded down $0.73 during trading on Friday, hitting $357.06. 342,273 shares of the stock were exchanged, compared to its average volume of 309,092. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35. The stock has a fifty day moving average price of $307.70 and a two-hundred day moving average price of $284.36. The firm has a market capitalization of $18.75 billion, a P/E ratio of 18.41, a PEG ratio of 2.39 and a beta of 0.96.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from Snap-on's previous quarterly dividend of $1.86. Snap-on's payout ratio is presently 38.29%.

Snap-on declared that its Board of Directors has approved a share buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,190 shares of company stock valued at $8,212,284. Company insiders own 4.10% of the company's stock.

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.