Snap-On Incorporated $SNA Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,745 shares of the company’s stock after selling 2,407 shares during the period. Advisors Asset Management Inc.’s holdings in Snap-On were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new position in Snap-On in the fourth quarter valued at $103,000. Captrust Financial Advisors increased its stake in shares of Snap-On by 14.4% during the fourth quarter. Captrust Financial Advisors now owns 9,999 shares of the company’s stock worth $3,395,000 after purchasing an additional 1,261 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Snap-On by 1.2% during the fourth quarter. Cetera Investment Advisers now owns 44,764 shares of the company’s stock worth $15,197,000 after purchasing an additional 550 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Snap-On during the fourth quarter worth about $681,000. Finally, CoreCap Advisors LLC increased its stake in shares of Snap-On by 7.5% during the fourth quarter. CoreCap Advisors LLC now owns 930 shares of the company’s stock worth $316,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $328.65 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.29 and a beta of 0.77. The company’s 50-day moving average is $323.96 and its two-hundred day moving average is $323.20. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating 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%. Snap-On’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $5.07 EPS. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

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

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research reports. 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 note on Friday, July 18th. Bank of America boosted their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Tigress Financial boosted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $357.00.

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.