Snap-on Incorporated (NYSE:SNA) Stock Position Cut by Prospera Financial Services Inc

Prospera Financial Services Inc trimmed its stake in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 92.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 605 shares of the company’s stock after selling 7,214 shares during the quarter. Prospera Financial Services Inc’s holdings in Snap-on were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SNA. Legacy Financial Advisors Inc. raised its holdings in Snap-on by 1.7% during the second quarter. Legacy Financial Advisors Inc. now owns 5,824 shares of the company’s stock worth $1,148,000 after purchasing an additional 100 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Snap-on by 0.8% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,264 shares of the company’s stock worth $2,219,000 after buying an additional 94 shares in the last quarter. Lindenwold Advisors lifted its holdings in shares of Snap-on by 1.1% in the second quarter. Lindenwold Advisors now owns 5,343 shares of the company’s stock valued at $1,053,000 after buying an additional 59 shares during the period. MQS Management LLC bought a new position in Snap-on during the second quarter valued at about $280,000. Finally, M&T Bank Corp grew its holdings in Snap-on by 268.2% during the second quarter. M&T Bank Corp now owns 74,792 shares of the company’s stock worth $8,673,000 after acquiring an additional 54,480 shares during the period. 87.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of several research reports. UBS Group reduced their price objective on shares of Snap-on to $175.00 in a research report on Friday, July 22nd. StockNews.com assumed coverage on shares of Snap-on in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Snap-on Trading Down 0.2 %

NYSE:SNA opened at $233.75 on Tuesday. The stock has a fifty day simple moving average of $216.30 and a 200 day simple moving average of $214.77. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. Snap-on Incorporated has a 1-year low of $190.08 and a 1-year high of $237.37. The company has a quick ratio of 2.33, a current ratio of 3.29 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNAGet Rating) last announced its earnings results on Thursday, October 20th. The company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.85 by $0.29. Snap-on had a net margin of 20.17% and a return on equity of 20.84%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company posted $3.57 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Snap-on Incorporated will post 16.49 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Monday, November 21st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Snap-on’s previous quarterly dividend of $1.42. Snap-on’s dividend payout ratio is presently 34.40%.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,607 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the transaction, the chief financial officer now directly owns 73,114 shares of the company’s stock, valued at $16,088,004.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

Snap-on Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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