Metis Global Partners LLC Decreases Position in Snap-On Incorporated $SNA

Metis Global Partners LLC trimmed its position in Snap-On Incorporated (NYSE:SNA) by 10.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,876 shares of the company’s stock after selling 228 shares during the quarter. Metis Global Partners LLC’s holdings in Snap-On were worth $584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Snap-On in the second quarter worth approximately $30,000. Cullen Frost Bankers Inc. lifted its holdings in Snap-On by 248.3% in 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 acquired a new stake in Snap-On during the 1st quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after buying an additional 38 shares in the last quarter. Finally, Harbor Asset Planning Inc. acquired a new stake in shares of Snap-On in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

NYSE:SNA opened at $341.64 on Thursday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The stock’s fifty day moving average is $338.46 and its two-hundred day moving average is $326.87. The company has a market capitalization of $17.77 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last issued 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. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $4.70 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $2.44 dividend. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.9%. Snap-On’s payout ratio is presently 51.18%.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of research reports. Roth Capital reissued a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial boosted their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird raised their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

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.