Sigma Planning Corp lowered its stake in shares of Snap-on Incorporated (NYSE:SNA – Free Report) by 57.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,446 shares of the company’s stock after selling 3,263 shares during the quarter. Sigma Planning Corp’s holdings in Snap-on were worth $604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Snap-on by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock valued at $1,308,079,000 after buying an additional 44,555 shares during the period. Geode Capital Management LLC raised its holdings in Snap-on by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,387,697 shares of the company’s stock worth $316,627,000 after purchasing an additional 15,479 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Snap-on by 9.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,093 shares of the company’s stock valued at $289,975,000 after purchasing an additional 114,488 shares during the period. Ariel Investments LLC lifted its position in Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock valued at $232,038,000 after purchasing an additional 20,485 shares during the period. Finally, Northern Trust Corp lifted its position in Snap-on by 3.6% in the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock valued at $180,298,000 after purchasing an additional 30,664 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Bank of America raised their price objective on shares of Snap-on from $230.00 to $240.00 and gave the company an “underperform” rating in a research report on Friday, April 21st. Robert W. Baird raised their price objective on shares of Snap-on from $270.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Roth Mkm raised their price objective on shares of Snap-on from $298.00 to $324.00 and gave the company a “buy” rating in a research report on Monday, July 17th. 888 restated a “reiterates” rating on shares of Snap-on in a research report on Wednesday, May 24th. Finally, Roth Capital raised shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $296.83.
Snap-on Trading Up 0.7 %
Shares of SNA opened at $270.34 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.67 and a quick ratio of 2.58. The firm has a 50 day simple moving average of $277.28 and a 200-day simple moving average of $258.58. Snap-on Incorporated has a 1-year low of $200.75 and a 1-year high of $297.26. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11.
Snap-on (NYSE:SNA – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.31. Snap-on had a net margin of 21.06% and a return on equity of 21.38%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $4.27 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that Snap-on Incorporated will post 18.45 EPS for the current fiscal year.
Snap-on Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a dividend of $1.62 per share. The ex-dividend date is Thursday, August 17th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.40%. Snap-on’s dividend payout ratio (DPR) is 35.90%.
Insider Transactions at Snap-on
In other news, CEO Nicholas T. Pinchuk sold 22,348 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $249.48, for a total transaction of $5,575,379.04. Following the completion of the transaction, the chief executive officer now directly owns 687,081 shares of the company’s stock, valued at approximately $171,412,967.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Snap-on news, VP Iain Boyd sold 8,963 shares of Snap-on stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $289.30, for a total value of $2,592,995.90. Following the completion of the sale, the vice president now directly owns 7,345 shares of the company’s stock, valued at approximately $2,124,908.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,348 shares of Snap-on stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $249.48, for a total transaction of $5,575,379.04. Following the completion of the sale, the chief executive officer now directly owns 687,081 shares of the company’s stock, valued at $171,412,967.88. The disclosure for this sale can be found here. Insiders sold a total of 57,244 shares of company stock valued at $15,473,850 in the last ninety days. Corporate insiders own 4.20% 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.
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