Corient Private Wealth LLC Sells 1,868 Shares of Snap-On Incorporated $SNA

Corient Private Wealth LLC reduced its stake in Snap-On Incorporated (NYSE:SNA) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,033 shares of the company’s stock after selling 1,868 shares during the quarter. Corient Private Wealth LLC’s holdings in Snap-On were worth $6,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Reynders McVeigh Capital Management LLC boosted its holdings in Snap-On by 76.9% in the second quarter. Reynders McVeigh Capital Management LLC now owns 1,150 shares of the company’s stock worth $358,000 after acquiring an additional 500 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Snap-On by 113.3% in the 2nd quarter. Osaic Holdings Inc. now owns 25,661 shares of the company’s stock worth $8,350,000 after purchasing an additional 13,631 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in Snap-On by 0.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,362 shares of the company’s stock worth $2,291,000 after purchasing an additional 51 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Snap-On by 17.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,604 shares of the company’s stock valued at $1,121,000 after purchasing an additional 526 shares during the last quarter. Finally, Carter Financial Group INC. bought a new stake in Snap-On during the 2nd quarter valued at about $528,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

NYSE SNA opened at $346.64 on Friday. The company has a 50-day moving average price of $341.06 and a 200-day moving average price of $330.81. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $365.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $18.03 billion, a P/E ratio of 18.18, a PEG ratio of 2.61 and a beta of 0.78.

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, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $4.70 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were paid a $2.44 dividend. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president directly owned 4,158 shares in the company, valued at approximately $1,448,106.66. The trade was a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,036 shares of company stock valued at $13,710,988 in the last 90 days. 3.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial upped their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Robert W. Baird boosted their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.