Sagespring Wealth Partners LLC Sells 72 Shares of Snap-On Incorporated $SNA

Sagespring Wealth Partners LLC cut its holdings in Snap-On Incorporated (NYSE:SNA) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,122 shares of the company’s stock after selling 72 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Snap-On were worth $349,000 as of its most recent SEC filing.

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

Snap-On Stock Performance

Shares of NYSE SNA opened at $339.61 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.42 and a current ratio of 4.40. The stock has a 50 day moving average price of $332.77 and a 200 day moving average price of $323.84. The stock has a market capitalization of $17.71 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.70 EPS. Analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 45.65%.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the sale, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. The trade was a 4.06% 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. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of a number of research reports. Tigress Financial boosted their price target on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a report on Friday, August 29th. Robert W. Baird boosted their target price on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $363.57.

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.