Inspire Investing LLC Reduces Stock Holdings in Snap-On Incorporated $SNA

Inspire Investing LLC reduced its stake in Snap-On Incorporated (NYSE:SNA) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 908 shares of the company’s stock after selling 37 shares during the period. Inspire Investing LLC’s holdings in Snap-On were worth $283,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Snap-On in the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC purchased a new position in Snap-On in the second quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its stake in Snap-On by 421.1% in the first 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. Cullen Frost Bankers Inc. increased its stake in Snap-On by 248.3% in 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 during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in Snap-On in the first quarter valued at approximately $34,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the sale, the chief financial officer owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is currently owned by insiders.

Snap-On Stock Performance

NYSE:SNA opened at $343.12 on Friday. The firm’s fifty day moving average price is $332.41 and its 200 day moving average price is $323.83. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 16th. The company reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.43. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $4.70 EPS. Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect 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 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 was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 45.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNA. Robert W. Baird raised their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

About Snap-On

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.