Hennessy Advisors Inc. Sells 200 Shares of Snap-On Incorporated $SNA

Hennessy Advisors Inc. trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 2.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,600 shares of the company’s stock after selling 200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Snap-On were worth $2,365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Snap-On during the first quarter worth $25,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On in the 2nd quarter worth $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Snap-On during the 1st quarter valued at about $34,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Saturday, September 27th. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Robert W. Baird raised their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, Tigress Financial upped their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

Snap-On Stock Performance

NYSE SNA opened at $347.39 on Friday. The business’s 50 day moving average price is $329.92 and its 200-day moving average price is $323.64. Snap-On Incorporated has a fifty-two week low of $284.38 and a fifty-two week high of $373.89. The company has a market cap of $18.12 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

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, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $5.07 earnings per share. Snap-On’s revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is 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.