Snap-On Incorporated $SNA Shares Sold by Inspire Investing LLC
by Mitch Edgeman · The Markets DailyInspire Investing LLC lowered its holdings in Snap-On Incorporated (NYSE:SNA – Free Report) by 3.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 908 shares of the company’s stock after selling 37 shares during the quarter. Inspire Investing LLC’s holdings in Snap-On were worth $283,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new position in shares of Snap-On during the 1st quarter worth $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Snap-On during the 2nd quarter worth $30,000. Golden State Wealth Management LLC raised 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 buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. raised 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 buying an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Snap-On during the 1st quarter worth $34,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
Snap-On Stock Up 3.2%
SNA opened at $343.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The business has a 50-day moving average of $332.41 and a two-hundred day moving average of $323.83. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89.
Snap-On (NYSE:SNA – Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The company reported $5.02 EPS for the quarter, beating the consensus estimate of $4.59 by $0.43. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.70 EPS. On average, research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.
Snap-On Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is 45.65%.
Insider Activity
In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On 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 completion of the sale, 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 position. 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 in the last 90 days. 3.90% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday. Robert W. Baird lifted their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Tigress Financial lifted their price objective 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 reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.
Read Our Latest Research Report on Snap-On
About Snap-On
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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