Personal CFO Solutions LLC trimmed its position in Snap-on Incorporated (NYSE:SNA – Free Report) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,029 shares of the company’s stock after selling 50 shares during the quarter. Personal CFO Solutions LLC’s holdings in Snap-on were worth $297,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Snap-on by 75.8% during the 2nd quarter. Barclays PLC now owns 107,011 shares of the company’s stock worth $30,839,000 after acquiring an additional 46,146 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in shares of Snap-on by 105.3% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,742 shares of the company’s stock worth $1,291,000 after purchasing an additional 2,432 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in shares of Snap-on during the first quarter valued at approximately $222,000. Cibc World Markets Corp increased its holdings in Snap-on by 131.3% during the second quarter. Cibc World Markets Corp now owns 6,212 shares of the company’s stock valued at $1,790,000 after buying an additional 3,526 shares during the period. Finally, New Mexico Educational Retirement Board raised its stake in Snap-on by 4.0% in the second quarter. New Mexico Educational Retirement Board now owns 2,596 shares of the company’s stock worth $748,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.
Wall Street Analysts Forecast Growth
SNA has been the topic of a number of analyst reports. Tigress Financial lifted their price objective on shares of Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, July 24th. StockNews.com initiated coverage on Snap-on in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $298.17.
Insider Activity at Snap-on
In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the transaction, the chief financial officer now owns 86,888 shares in the company, valued at $22,775,951.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the transaction, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,078 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $258.16, for a total transaction of $5,699,656.48. Following the transaction, the chief executive officer now directly owns 697,506 shares in the company, valued at $180,068,148.96. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Snap-on Stock Up 1.1 %
Shares of SNA stock opened at $277.76 on Monday. The company has a current ratio of 3.67, a quick ratio of 2.62 and a debt-to-equity ratio of 0.24. Snap-on Incorporated has a twelve month low of $220.21 and a twelve month high of $297.26. The stock has a 50 day moving average of $259.80 and a 200 day moving average of $266.45. The stock has a market cap of $14.66 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.86 and a beta of 1.06.
Snap-on (NYSE:SNA – Get Free Report) last posted its earnings results on Thursday, October 19th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Snap-on had a net margin of 21.21% and a return on equity of 21.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.14 EPS. As a group, sell-side analysts expect that Snap-on Incorporated will post 18.62 EPS for the current year.
Snap-on Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $1.86 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.62. This represents a $7.44 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, November 20th. Snap-on’s dividend payout ratio is presently 35.18%.
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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