AE Wealth Management LLC Sells 215 Shares of Snap-On Incorporated $SNA

AE Wealth Management LLC lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 19.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 875 shares of the company’s stock after selling 215 shares during the quarter. AE Wealth Management LLC’s holdings in Snap-On were worth $272,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SNA. Penserra Capital Management LLC grew its stake in shares of Snap-On by 13.5% in the 2nd quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock worth $86,000 after buying an additional 33 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Snap-On by 15.1% in the second quarter. Wedbush Securities Inc. now owns 3,298 shares of the company’s stock worth $1,026,000 after acquiring an additional 432 shares in the last quarter. Bryn Mawr Trust Advisors LLC grew its stake in shares of Snap-On by 18.2% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 10,578 shares of the company’s stock worth $3,292,000 after acquiring an additional 1,632 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Snap-On by 23.6% during the second quarter. Savant Capital LLC now owns 2,372 shares of the company’s stock valued at $738,000 after acquiring an additional 453 shares in the last quarter. Finally, Mcrae Capital Management Inc. raised its position in shares of Snap-On by 3.0% in the 2nd quarter. Mcrae Capital Management Inc. now owns 51,778 shares of the company’s stock worth $16,112,000 after purchasing an additional 1,530 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Performance

Shares of SNA opened at $329.43 on Monday. The firm has a market capitalization of $17.13 billion, a P/E ratio of 17.27, a PEG ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The business has a fifty day moving average of $338.62 and a 200 day moving average of $327.28.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $4.70 earnings per share. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 3.0%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Analysts Set New Price Targets

SNA has been the topic of several recent analyst reports. Roth Capital reissued a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Finally, Robert W. Baird lifted their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and a consensus target price of $365.00.

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.