Commonwealth Equity Services LLC Sells 5,008 Shares of Snap-On Incorporated $SNA

Commonwealth Equity Services LLC trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 27.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,449 shares of the company’s stock after selling 5,008 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Snap-On were worth $4,634,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snap-On during the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On in the 4th quarter worth $28,000. Montag A & Associates Inc. raised its position in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after acquiring an additional 28 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Snap-On by 152.4% in the 4th quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock worth $37,000 after acquiring an additional 64 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,439 shares of company stock valued at $11,393,700. Corporate insiders own 3.80% of the company’s stock.

Snap-On Stock Down 0.0%

Shares of SNA stock opened at $379.67 on Monday. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88. The stock’s fifty day moving average price is $372.58 and its 200 day moving average price is $365.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $4.51 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has approved a share buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Analyst Ratings Changes

Several research firms have commented on SNA. Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Robert W. Baird increased their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Finally, Tigress Financial raised their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

About Snap-On

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.