Atria Wealth Solutions Inc. Trims Stock Position in Snap-On Incorporated (NYSE:SNA)

Atria Wealth Solutions Inc. lessened its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,513 shares of the company's stock after selling 870 shares during the period. Atria Wealth Solutions Inc.'s holdings in Snap-On were worth $1,184,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Snap-On in the first quarter worth $25,000. 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. Cullen Frost Bankers Inc. lifted its position 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 acquiring an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On in the 1st quarter valued at $35,000. Finally, ORG Partners LLC lifted its position in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after acquiring an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm'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 completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,304 shares of company stock valued at $15,061,306 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Stock Down 2.6%

NYSE:SNA traded down $8.79 during trading hours on Thursday, reaching $325.02. The company had a trading volume of 169,187 shares, compared to its average volume of 383,012. Snap-On Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 2.27 and a beta of 0.76. The business's 50-day simple moving average is $319.37 and its two-hundred day simple moving average is $325.69. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $5.07 earnings per share. The firm's revenue was up .0% on a year-over-year basis. On average, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 45.65%.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent research reports. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird boosted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Bank of America boosted their price objective 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. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $356.17.

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.