Leeward Investments LLC MA Lowers Stake in Snap-On Incorporated $SNA

Leeward Investments LLC MA reduced its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 1.2% in the second quarter, HoldingsChannel reports. The fund owned 21,064 shares of the company’s stock after selling 252 shares during the period. Leeward Investments LLC MA’s holdings in Snap-On were worth $6,555,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in Snap-On during the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC increased its stake in 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 in the last quarter. Cullen Frost Bankers Inc. increased its stake in Snap-On by 248.3% during the 1st 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. Ransom Advisory Ltd bought a new stake in Snap-On during the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Price Performance

Shares of NYSE:SNA opened at $344.10 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a market capitalization of $17.90 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.38 and a beta of 0.78. The firm’s 50 day simple moving average is $334.54 and its two-hundred day simple moving average is $324.71.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $4.70 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s payout ratio is currently 44.89%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Finally, Bank of America lifted their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

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.