Atria Wealth Solutions Inc. Reduces Position in Snap-On Incorporated $SNA

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Snap-On Incorporated by 49.0%, now holding 1,793 shares worth approximately $558,000.
• Snap-On announced a quarterly dividend of $2.14 per share, which corresponds to an annualized yield of 2.5%.
• Snap-On reported an earnings per share (EPS) of $4.71 for the last quarter, exceeding analysts' expectations of $4.59.

Atria Wealth Solutions Inc. lessened its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 49.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,793 shares of the company's stock after selling 1,720 shares during the period. Atria Wealth Solutions Inc.'s holdings in Snap-On were worth $558,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in Snap-On during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On during the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Snap-On during the 1st quarter worth approximately $34,000. Finally, Cullen Frost Bankers Inc. grew its position 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 during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of NYSE SNA opened at $339.61 on Monday. The company's fifty day moving average price is $332.77 and its 200 day moving average price is $323.68. 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 $17.66 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $4.70 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend 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 is 44.89%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Roth Capital reaffirmed a "buy" rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Wednesday, October 15th. Robert W. Baird upped their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a report on Friday. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Snap-On has an average rating of "Moderate Buy" and a consensus target price of $363.57.

Insiders Place Their Bets

In related news, 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 transaction of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 over the last three months. 3.90% of the stock is currently owned by 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.

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