Sigma Investment Counselors Inc. Lowers Stake in Snap-on Incorporated (SNA)

Sigma Investment Counselors Inc. reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 2.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,730 shares of the company’s stock after selling 392 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Snap-on were worth $2,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNA. CSat Investment Advisory L.P. lifted its position in Snap-on by 81.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock worth $30,000 after buying an additional 92 shares during the last quarter. Riverview Trust Co bought a new stake in Snap-on in the fourth quarter worth $33,000. Tributary Capital Management LLC bought a new stake in Snap-on in the fourth quarter worth $44,000. FTB Advisors Inc. lifted its position in Snap-on by 120.5% in the first quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock worth $56,000 after buying an additional 200 shares during the last quarter. Finally, Private Capital Group LLC lifted its position in Snap-on by 98.6% in the fourth quarter. Private Capital Group LLC now owns 437 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter.

SNA has been the subject of a number of analyst reports. TheStreet upgraded Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. Barrington Research set a $185.00 price target on Snap-on and gave the stock a “buy” rating in a research report on Monday, April 22nd. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Robert W. Baird lowered Snap-on from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $186.00 to $160.00 in a research note on Wednesday, April 10th. Finally, Bank of America lowered Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 target price on the stock. in a research note on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $185.20.

SNA stock opened at $169.77 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.66 and a current ratio of 2.42. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $189.46. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.10. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The business had revenue of $921.70 million for the quarter, compared to analyst estimates of $933.13 million. During the same quarter last year, the firm posted $2.79 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Snap-on Incorporated will post 12.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 21st will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.80 dividend on an annualized basis and a yield of 2.24%. Snap-on’s payout ratio is 32.18%.

In other news, SVP Thomas J. Ward sold 21,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $169.75, for a total transaction of $3,564,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Iain Boyd sold 26,500 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $158.79, for a total value of $4,207,935.00. Following the transaction, the vice president now owns 19,038 shares in the company, valued at approximately $3,023,044.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,327 shares of company stock worth $12,687,933. Insiders own 3.90% of the company’s stock.

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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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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