HB Wealth Management LLC Lowers Holdings in Snap-On Incorporated $SNA

HB Wealth Management LLC trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,341 shares of the company’s stock after selling 148 shares during the quarter. HB Wealth Management LLC’s holdings in Snap-On were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in shares of Snap-On during the first quarter worth $25,000. Golden State Wealth Management LLC increased its holdings in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Snap-On by 248.3% in 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 in the last quarter. Ransom Advisory Ltd bought a new position in shares of Snap-On during the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. Institutional investors 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 company’s 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 transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the transaction, the chief financial officer directly owned 111,721 shares in the company, valued at approximately $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. Over the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

Shares of SNA stock opened at $347.39 on Monday. The stock has a 50 day moving average price of $329.92 and a 200 day moving average price of $323.60. Snap-On Incorporated has a 52-week low of $284.38 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The firm has a market capitalization of $18.12 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.42 and a beta of 0.78.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $5.07 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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

Analyst Ratings Changes

SNA has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Saturday, September 27th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a report on Friday, August 29th. Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Finally, Bank of America increased their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and a consensus price target of $357.00.

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.