Freedom Investment Management Inc. Sells 325 Shares of Snap-On Incorporated $SNA

Freedom Investment Management Inc. decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,945 shares of the company’s stock after selling 325 shares during the period. Freedom Investment Management Inc.’s holdings in Snap-On were worth $1,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC raised its position in Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after purchasing an additional 32 shares during the last quarter. Horizon Investments LLC raised its position in Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after purchasing an additional 32 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after purchasing an additional 34 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Snap-On by 28.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after purchasing an additional 35 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida raised its position in Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock valued at $241,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $347.09 on Friday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $18.05 billion, a P/E ratio of 18.20, a PEG ratio of 2.37 and a beta of 0.78. The stock’s 50 day moving average is $334.18 and its 200 day moving average is $324.39. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89.

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

Snap-On Announces Dividend

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

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on 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 owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SNA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial upped their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird raised their target price on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $365.00.

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.