Signaturefd LLC Reduces Holdings in Snap-On Incorporated $SNA

Signaturefd LLC cut its position in Snap-On Incorporated (NYSE:SNA) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285 shares of the company’s stock after selling 37 shares during the quarter. Signaturefd LLC’s holdings in Snap-On were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC increased its position in shares of Snap-On by 78.3% during the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock worth $2,432,000 after acquiring an additional 3,170 shares during the last quarter. Advisors Capital Management LLC raised its stake in Snap-On by 5.3% during the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock valued at $418,000 after buying an additional 63 shares in the last quarter. Jump Financial LLC lifted its holdings in Snap-On by 367.7% during the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after buying an additional 4,342 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Snap-On in the 1st quarter worth approximately $1,986,000. Finally, Ascent Group LLC bought a new stake in shares of Snap-On in the 1st quarter valued at approximately $421,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% 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 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

SNA opened at $347.39 on Friday. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $329.92 and its 200-day moving average is $323.64. The stock has a market cap of $18.12 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $284.38 and a twelve month high of $373.89.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion for 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 .0% compared to the same quarter last year. During the same period last year, the firm earned $5.07 EPS. On average, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 45.65%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNA. Bank of America raised their price objective 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 restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Tuesday, September 23rd. Robert W. Baird lifted their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Saturday, September 27th. Finally, Tigress Financial lifted their target price on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.00.

Snap-On Company 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.