Concurrent Investment Advisors LLC Sells 94 Shares of Snap-On Incorporated $SNA

Concurrent Investment Advisors LLC trimmed its position in Snap-On Incorporated (NYSE:SNA) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,792 shares of the company’s stock after selling 94 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Snap-On were worth $4,603,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. Horizon Investments LLC lifted its holdings in Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company’s stock valued at $261,000 after buying an additional 32 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its holdings in Snap-On by 0.7% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after buying an additional 32 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after buying an additional 34 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Snap-On by 28.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after buying an additional 35 shares during the period. Finally, Canandaigua National Trust Co of Florida lifted its holdings in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock valued at $241,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Down 1.4%

Shares of SNA stock opened at $327.21 on Monday. Snap-On Incorporated has a 52-week low of $287.44 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The company has a 50-day simple moving average of $331.20 and a two-hundred day simple moving average of $323.62. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.27 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $5.07 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Finally, Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. The trade was a 0.11% 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. 3.90% of the stock is currently owned by insiders.

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.