Snap-On Incorporated (NYSE:SNA) Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,763 shares of the company’s stock after selling 141 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Snap-On were worth $4,975,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNA. Jump Financial LLC acquired a new position in shares of Snap-On in the 4th quarter valued at $401,000. NewEdge Advisors LLC increased its stake in Snap-On by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 6,016 shares of the company’s stock valued at $2,043,000 after buying an additional 168 shares during the period. GeoWealth Management LLC increased its stake in Snap-On by 221.2% in the 4th quarter. GeoWealth Management LLC now owns 1,031 shares of the company’s stock valued at $350,000 after buying an additional 710 shares during the period. First Trust Advisors LP increased its stake in Snap-On by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after buying an additional 411,317 shares during the period. Finally, Epoch Investment Partners Inc. acquired a new position in Snap-On in the 4th quarter valued at $13,232,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,160 shares of company stock worth $16,650,792 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Snap-On Price Performance

Shares of NYSE SNA opened at $326.04 on Friday. The firm has a market capitalization of $17.01 billion, a P/E ratio of 17.39, a PEG ratio of 2.27 and a beta of 0.76. Snap-On Incorporated has a one year low of $268.90 and a one year high of $373.89. The company’s fifty day moving average is $319.58 and its two-hundred day moving average is $325.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 EPS. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $2.14 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On’s payout ratio is currently 45.65%.

Analyst Ratings Changes

Several equities analysts have issued reports on SNA shares. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $356.17.

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.