Chase Investment Counsel Corp Has $982,000 Holdings in Snap-on Incorporated (NYSE:SNA)

Chase Investment Counsel Corp boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 98.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,400 shares of the company’s stock after acquiring an additional 1,686 shares during the period. Chase Investment Counsel Corp’s holdings in Snap-on were worth $982,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Avantax Planning Partners Inc. grew its stake in shares of Snap-on by 3.5% during the third quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after buying an additional 38 shares during the last quarter. Phoenix Wealth Advisors grew its stake in shares of Snap-on by 3.1% during the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after buying an additional 39 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after buying an additional 40 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its stake in shares of Snap-on by 0.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after buying an additional 47 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of Snap-on by 2.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock worth $570,000 after buying an additional 48 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of Snap-on stock traded up $2.29 on Monday, reaching $272.99. 56,022 shares of the company traded hands, compared to its average volume of 310,557. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The company has a 50 day moving average of $284.28 and a 200 day moving average of $278.99. The firm has a market capitalization of $14.39 billion, a PE ratio of 14.22, a PEG ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

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

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, May 17th. Snap-on’s payout ratio is currently 39.03%.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total value of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares in the company, valued at approximately $26,014,052.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the sale, the chief financial officer now owns 95,661 shares in the company, valued at approximately $26,014,052.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jesus Arregui sold 2,562 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares in the company, valued at approximately $2,333,379.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNA. Robert W. Baird reduced their price objective on shares of 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 reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

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.