Snap-On Incorporated $SNA Stock: Bryn Mawr Trust Advisors LLC Cuts Holdings

Bryn Mawr Trust Advisors LLC lowered its stake in Snap-On Incorporated (NYSE:SNA) by 14.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,431 shares of the company’s stock after selling 1,538 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Snap-On were worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. North Dakota State Investment Board grew its holdings in shares of Snap-On by 1.8% during the third quarter. North Dakota State Investment Board now owns 1,552 shares of the company’s stock valued at $564,000 after buying an additional 28 shares during the last quarter. TFB Advisors LLC increased its holdings in shares of Snap-On by 3.9% in the third quarter. TFB Advisors LLC now owns 886 shares of the company’s stock valued at $322,000 after purchasing an additional 33 shares during the period. Childress Capital Advisors LLC raised its stake in shares of Snap-On by 3.1% in the third quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company’s stock worth $442,000 after purchasing an additional 37 shares during the last quarter. CX Institutional raised its stake in shares of Snap-On by 10.6% in the second quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after purchasing an additional 43 shares during the last quarter. Finally, Sovran Advisors LLC lifted its holdings in shares of Snap-On by 6.7% during the first quarter. Sovran Advisors LLC now owns 752 shares of the company’s stock worth $288,000 after purchasing an additional 47 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-On

In related news, CFO Aldo Pagliari sold 5,531 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares of the company’s stock, valued at $48,770,337. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president owned 1,526 shares of the company’s stock, valued at approximately $610,400. The trade was a 34.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,220 shares of company stock valued at $11,704,411 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Snap-On Stock Performance

Shares of NYSE SNA opened at $373.84 on Tuesday. The company has a market capitalization of $19.28 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.71 and a current ratio of 3.55. The company’s fifty day moving average price is $368.40 and its 200 day moving average price is $380.26. Snap-On Incorporated has a 1 year low of $320.80 and a 1 year high of $423.02.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.93 by ($0.29). Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company earned $4.71 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a dividend of $2.75 per share. The ex-dividend date is Friday, November 20th. This is a positive change from Snap-On’s previous quarterly dividend of $2.44. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.9%. Snap-On’s payout ratio is currently 50.75%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent research reports. Barclays dropped their target price on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Roth Capital reissued a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings cut shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Robert W. Baird set a $385.00 price objective on shares of Snap-On in a report on Friday, October 23rd. Finally, Tigress Financial upped their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $434.00.

Snap-On Company Profile

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services.

The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.

Founded in 1920 as the Snap-on Wrench Company, Snap-on began with interchangeable socket wrench sets and has since expanded into a broad range of professional tools and repair solutions.