Yousif Capital Management LLC Trims Stake in Snap-On Incorporated $SNA

Yousif Capital Management LLC lowered its stake in Snap-On Incorporated (NYSE:SNA) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,717 shares of the company’s stock after selling 46 shares during the quarter. Yousif Capital Management LLC’s holdings in Snap-On were worth $2,090,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Snap-On during the 1st quarter worth $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On during the 2nd quarter worth $30,000. Golden State Wealth Management LLC lifted its stake in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Finally, Ransom Advisory Ltd purchased a new position in shares of Snap-On during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital reissued a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Wednesday. Tigress Financial increased their target price on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.57.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On 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 transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock valued at $8,983,203 over the last quarter. Insiders own 3.90% of the company’s stock.

Snap-On Stock Down 1.3%

Shares of NYSE SNA opened at $339.61 on Friday. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89. The company has a market cap of $17.71 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.36 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.42 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $332.77 and a 200 day moving average price of $323.71.

Snap-On (NYSE:SNA) last announced 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%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $4.70 earnings per share. Research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 44.89%.

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.