Alpine Woods Capital Investors LLC Cuts Stock Position in Snap-On Incorporated $SNA

Alpine Woods Capital Investors LLC cut its holdings in Snap-On Incorporated (NYSE:SNA) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,910 shares of the company’s stock after selling 200 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Snap-On were worth $3,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Snap-On in the first quarter worth $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On in the second quarter worth $30,000. Golden State Wealth Management LLC raised its stake in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter worth $34,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $332.61 on Tuesday. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The stock’s fifty day moving average is $331.48 and its 200 day moving average is $323.64. The stock has a market cap of $17.35 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.27 and a beta of 0.78. 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 announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $5.07 EPS. Snap-On’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side 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 of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 45.65%.

Analysts Set New Price Targets

SNA has been the subject of several recent analyst reports. Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Finally, Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $357.00.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was 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 of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On 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.