Beverly Hills Private Wealth LLC Lowers Holdings in Snap-On Incorporated $SNA

Beverly Hills Private Wealth LLC decreased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,348 shares of the company’s stock after selling 127 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Snap-On were worth $419,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Madison Wealth Partners Inc purchased a new position in Snap-On during the second quarter valued at $247,000. Sigma Investment Counselors Inc. raised its stake in shares of Snap-On by 3.7% in the second quarter. Sigma Investment Counselors Inc. now owns 17,536 shares of the company’s stock worth $5,457,000 after purchasing an additional 632 shares during the last quarter. Burford Brothers Inc. purchased a new position in shares of Snap-On in the second quarter worth $507,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Snap-On in the second quarter worth $56,595,000. Finally, Hamlin Capital Management LLC raised its stake in shares of Snap-On by 2.6% in the second quarter. Hamlin Capital Management LLC now owns 515,661 shares of the company’s stock worth $160,463,000 after purchasing an additional 13,016 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. 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. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Roth Capital restated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday. Robert W. Baird boosted their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.57.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’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 of the company’s stock, 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 valued at $8,983,203 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Price Performance

Shares of Snap-On stock opened at $340.76 on Tuesday. The stock has a 50 day moving average of $333.16 and a 200 day moving average of $323.86. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The firm has a market cap of $17.72 billion, a PE ratio of 17.87, a PEG ratio of 2.36 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $4.70 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 44.89%.

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.