Stiles Financial Services Inc Trims Stake in Snap-On Incorporated $SNA

Stiles Financial Services Inc lowered its holdings in Snap-On Incorporated (NYSE:SNA) by 17.1% during the second quarter, Holdings Channel.com reports. The firm owned 2,165 shares of the company’s stock after selling 448 shares during the period. Stiles Financial Services Inc’s holdings in Snap-On were worth $674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Snap-On by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock valued at $647,593,000 after purchasing an additional 115,306 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Snap-On in the second quarter valued at $434,938,000. Auto Owners Insurance Co raised its position in Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after purchasing an additional 1,070,025 shares during the period. Northern Trust Corp raised its position in Snap-On by 5.4% in the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after purchasing an additional 43,467 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Snap-On by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company’s stock valued at $261,023,000 after buying an additional 15,097 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’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 sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the 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. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNA. Bank of America lifted their price objective on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Robert W. Baird lifted their price objective on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Tigress Financial lifted their price objective on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, September 23rd. Five 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.00.

Snap-On Trading Down 2.1%

SNA opened at $332.17 on Friday. Snap-On Incorporated has a 12 month low of $285.00 and a 12 month high of $373.89. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.36 and a beta of 0.78. 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 business has a fifty day moving average price of $331.01 and a 200 day moving average price of $323.85.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.07 EPS. Sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio is currently 45.65%.

Snap-On Company 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.