Freestone Capital Holdings LLC Sells 353 Shares of Snap-On Incorporated $SNA

Freestone Capital Holdings LLC lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 2.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,410 shares of the company’s stock after selling 353 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Snap-On were worth $4,484,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Snap-On by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after purchasing an additional 115,306 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Snap-On in the 2nd quarter valued at approximately $434,938,000. Nordea Investment Management AB raised its stake in Snap-On by 3.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock valued at $376,775,000 after buying an additional 43,430 shares during the last quarter. Auto Owners Insurance Co grew its position in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the period. Finally, Northern Trust Corp raised its position in shares of Snap-On by 5.4% during the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after purchasing an additional 43,467 shares during the period. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research reports. Roth Capital reaffirmed a “buy” rating and issued a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. 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, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Bank of America upped their price objective 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. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was 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 approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,898 shares of company stock worth $8,983,203 in the last quarter. Insiders own 3.90% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $335.91 on Monday. The firm has a 50-day simple moving average of $336.07 and a two-hundred day simple moving average of $324.92. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a market cap of $17.47 billion, a PE ratio of 17.61, a P/E/G ratio of 2.33 and a beta of 0.78.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during 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%.Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.70 EPS. As a group, analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared 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 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is 44.89%.

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.