Snap-On Incorporated $SNA Shares Sold by Atria Wealth Solutions Inc.

by · The Markets Daily

Atria Wealth Solutions Inc. cut its stake in shares of Snap-On Incorporated (NYSE:SNA – Free Report) by 49.0% in the second quarter, HoldingsChannel.com reports. The fund owned 1,793 shares of the company’s stock after selling 1,720 shares during the period. Atria Wealth Solutions Inc.’s holdings in Snap-On were worth $558,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SNA. Alpine Bank Wealth Management acquired a new position in Snap-On during the first quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of Snap-On in the second quarter valued at about $30,000. Golden State Wealth Management LLC raised its position in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in shares of Snap-On in the first quarter valued at about $34,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Down 1.3%

Shares of SNA stock opened at $339.61 on Monday. 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 firm has a market cap of $17.66 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a 50-day moving average of $332.77 and a two-hundred day moving average of $323.68. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89.

Snap-On (NYSE:SNA – Get Free Report) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.70 earnings per share. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 44.89%.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares of the company’s stock, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNA shares. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Robert W. Baird raised their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Tigress Financial raised their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and an average target price of $363.57.

Get Our Latest Stock Analysis on Snap-On

Snap-On Profile

(Free Report)

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.

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