Founders Financial Alliance LLC Has $328,000 Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Founders Financial Alliance LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 972 shares of the company’s stock after selling 75 shares during the quarter. Founders Financial Alliance LLC’s holdings in Snap-On were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. TrinityPoint Wealth LLC boosted its stake in shares of Snap-On by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company’s stock valued at $1,414,000 after purchasing an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock worth $234,000 after acquiring an additional 34 shares during the period. Canandaigua National Trust Co of Florida lifted its stake in shares of Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock worth $241,000 after acquiring an additional 37 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Snap-On by 3.4% in the fourth quarter. Advisors Capital Management LLC now owns 1,178 shares of the company’s stock worth $400,000 after acquiring an additional 39 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in shares of Snap-On by 1.3% in the fourth quarter. CreativeOne Wealth LLC now owns 3,073 shares of the company’s stock worth $1,043,000 after acquiring an additional 40 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Karen L. Daniel sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNA shares. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America lifted 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. Finally, Robert W. Baird lifted their price objective on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and an average target price of $356.17.

Snap-On Price Performance

Shares of SNA opened at $321.67 on Friday. Snap-On Incorporated has a 52-week low of $267.00 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 business’s 50 day moving average price is $318.92 and its two-hundred day moving average price is $326.19. The firm has a market cap of $16.78 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (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 analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.07 earnings per share. On average, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.7%. Snap-On’s payout ratio is currently 45.65%.

Snap-On 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.