Midwest Trust Co Purchases 20,465 Shares of Snap-On Incorporated $SNA

Midwest Trust Co raised its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 1,351.7% during the third quarter, Holdings Channel reports. The fund owned 21,979 shares of the company’s stock after buying an additional 20,465 shares during the period. Midwest Trust Co’s holdings in Snap-On were worth $7,616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNA. Tobam purchased a new stake in shares of Snap-On in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in shares of Snap-On during the second quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Snap-On during the 3rd quarter valued at about $36,000. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,607 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the sale, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 48,036 shares of company stock worth $16,792,028. 3.90% of the stock is owned by insiders.

Snap-On Trading Up 2.4%

NYSE:SNA opened at $377.08 on Wednesday. The company has a 50-day moving average price of $358.25 and a 200-day moving average price of $342.39. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $388.96. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.52 and a beta of 0.81.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company earned $4.82 earnings per share. Snap-On’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research report on Friday. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Roth Mkm reiterated a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $370.67.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.