Snap-On Incorporated $SNA Stake Trimmed by Simon Quick Advisors LLC

Simon Quick Advisors LLC reduced its position in Snap-On Incorporated (NYSE:SNA) by 16.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 891 shares of the company’s stock after selling 174 shares during the period. Simon Quick Advisors LLC’s holdings in Snap-On were worth $277,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in 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 acquiring an additional 115,306 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snap-On in the second quarter worth approximately $434,938,000. Nordea Investment Management AB increased its position in shares of Snap-On by 3.7% in the second quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after acquiring an additional 43,430 shares in the last quarter. Auto Owners Insurance Co increased its position in shares of Snap-On by 35,967.2% in 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 in the last quarter. Finally, Northern Trust Corp increased its position in shares of Snap-On by 5.4% in 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 in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Bank of America increased their price target 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. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five 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 company. Based on data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the company’s 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 directly owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.5%

SNA stock opened at $337.31 on Tuesday. The firm has a market cap of $17.54 billion, a PE ratio of 17.69, a PEG ratio of 2.33 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89. The company has a fifty day simple moving average of $336.23 and a 200 day simple moving average of $325.15. 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 posted its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $4.70 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Tuesday, August 19th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis 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 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.