Bryn Mawr Capital Management LLC Sells 5,534 Shares of Snap-On Incorporated (NYSE:SNA)

Bryn Mawr Capital Management LLC trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 38.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,946 shares of the company's stock after selling 5,534 shares during the period. Bryn Mawr Capital Management LLC's holdings in Snap-On were worth $3,015,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SNA. Sequoia Financial Advisors LLC boosted its holdings in shares of Snap-On by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 835 shares of the company's stock worth $284,000 after purchasing an additional 66 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Snap-On by 53.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 229 shares of the company's stock worth $78,000 after purchasing an additional 80 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Snap-On in the fourth quarter worth about $1,068,000. Natixis Advisors LLC lifted its stake in shares of Snap-On by 9.1% in the fourth quarter. Natixis Advisors LLC now owns 72,479 shares of the company's stock worth $24,605,000 after acquiring an additional 6,041 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Snap-On by 3.5% in the fourth quarter. Corient Private Wealth LLC now owns 22,987 shares of the company's stock worth $7,803,000 after acquiring an additional 783 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer directly owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock valued at $9,482,532 in the last quarter. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SNA shares. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Longbow Research raised shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One equities 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's stock. According to MarketBeat, Snap-On has an average rating of "Moderate Buy" and an average price target of $356.17.

Snap-On Stock Performance

NYSE SNA traded down $1.25 during trading on Friday, reaching $336.55. The company's stock had a trading volume of 609,288 shares, compared to its average volume of 396,346. The firm has a 50 day moving average price of $318.47 and a 200 day moving average price of $327.84. Snap-On Incorporated has a 12 month low of $266.56 and a 12 month high of $373.89. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the company posted $5.07 earnings per share. The business's quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a dividend of $2.14 per share. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-On's dividend payout ratio is currently 44.82%.

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.