Snap-On Incorporated $SNA Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC decreased its stake in Snap-On Incorporated (NYSE:SNA) by 26.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,041 shares of the company’s stock after selling 380 shares during the period. Venturi Wealth Management LLC’s holdings in Snap-On were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after acquiring an additional 115,306 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Snap-On during the second quarter worth about $434,938,000. Auto Owners Insurance Co raised its position in Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. Northern Trust Corp raised its position in Snap-On by 5.4% during the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock worth $283,668,000 after acquiring an additional 43,467 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Snap-On by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company’s stock worth $261,023,000 after acquiring an additional 15,097 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of NYSE SNA opened at $327.21 on Friday. Snap-On Incorporated has a 12 month low of $287.44 and a 12 month high of $373.89. The company has a 50-day simple moving average of $331.20 and a 200-day simple moving average of $323.79. The company has a market cap of $17.07 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $5.07 earnings per share. Snap-On’s revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of research reports. Robert W. Baird lifted 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. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, September 23rd. Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Finally, Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Five 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $357.00.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.