Snap-On Incorporated $SNA Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 11.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 40,209 shares of the company’s stock after selling 5,177 shares during the period. HighTower Advisors LLC’s holdings in Snap-On were worth $16,180,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares in the last quarter. Woodline Partners LP boosted its position in shares of Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares during the period. EverSource Wealth Advisors LLC grew its stake in Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after buying an additional 434 shares during the period. Finally, Natixis lifted its stake in Snap-On by 136.8% in the second quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after buying an additional 1,761 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNA shares. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research report on Friday, July 24th. Roth Capital restated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $426.20.

Insider Activity

In other news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president directly owned 1,526 shares in the company, valued at approximately $610,400. This trade represents a 34.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. This trade represents a 30.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,720 shares of company stock valued at $16,500,198 in the last quarter. Insiders own 3.80% of the company’s stock.

Snap-On Stock Performance

Shares of SNA stock opened at $378.04 on Thursday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $401.85 and a 200-day simple moving average of $385.40. The company has a market cap of $19.56 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72. Snap-On Incorporated has a 12-month low of $320.80 and a 12-month high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company posted $4.72 earnings per share. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics and repair information. Its products include hand and power tools, tool storage, vehicle diagnostic systems, shop equipment, repair software and related services. The company serves professional technicians and customers in the automotive repair, commercial transportation, industrial, aviation, military, agriculture and other technical markets.

Snap-on sells products under the Snap-on brand and other brands, including Blue-Point, through a broad distribution network.