Tower Research Capital LLC TRC cut its stake in shares of Snap-on Incorporated (NYSE:SNA – Free Report) by 44.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,838 shares of the company’s stock after selling 1,487 shares during the period. Tower Research Capital LLC TRC’s holdings in Snap-on were worth $454,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Carl Stuart Investment Advisor Inc. bought a new position in Snap-on during the 1st quarter valued at $208,645,000. Ridgewood Investments LLC bought a new position in Snap-on during the 1st quarter valued at $29,000. Parkside Financial Bank & Trust lifted its stake in Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares in the last quarter. Private Trust Co. NA lifted its stake in Snap-on by 183.6% during the 1st quarter. Private Trust Co. NA now owns 156 shares of the company’s stock valued at $39,000 after acquiring an additional 101 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Snap-on during the 1st quarter valued at $40,000. 92.45% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Snap-on
In other Snap-on news, VP Iain Boyd sold 8,963 shares of Snap-on stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $289.30, for a total transaction of $2,592,995.90. Following the completion of the transaction, the vice president now owns 7,345 shares of the company’s stock, valued at approximately $2,124,908.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, VP Iain Boyd sold 8,963 shares of Snap-on stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $289.30, for a total transaction of $2,592,995.90. Following the completion of the transaction, the vice president now owns 7,345 shares of the company’s stock, valued at approximately $2,124,908.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy L. Chambers sold 4,598 shares of Snap-on stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $289.07, for a total value of $1,329,143.86. Following the transaction, the senior vice president now directly owns 13,276 shares of the company’s stock, valued at approximately $3,837,693.32. The disclosure for this sale can be found here. Insiders sold 57,244 shares of company stock valued at $15,473,850 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.
Snap-on Trading Down 0.8 %
Snap-on (NYSE:SNA – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.31. Snap-on had a return on equity of 21.38% and a net margin of 21.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $4.27 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts forecast that Snap-on Incorporated will post 18.45 EPS for the current year.
Snap-on Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, August 17th. Snap-on’s payout ratio is presently 35.90%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on SNA shares. 888 reiterated a “reiterates” rating on shares of Snap-on in a research note on Wednesday, May 24th. Tigress Financial lifted their target price on Snap-on from $302.00 to $328.00 in a research note on Wednesday, June 21st. StockNews.com started coverage on Snap-on in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Barrington Research reiterated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Monday, July 24th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Snap-on has an average rating of “Hold” and an average target price of $296.83.
View Our Latest Analysis on Snap-on
Snap-on Company 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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