FORA Capital LLC Sells 2,208 Shares of Snap-On Incorporated $SNA

Key Points

• FORA Capital LLC reduced its stake in Snap-On Incorporated by 23.1%, holding a total of 7,345 shares valued at approximately $2.48 million as of the last SEC filing.
• Institutional investors own 84.88% of Snap-On's stock, indicating strong institutional support for the company.
• Snap-On recently announced a quarterly dividend of $2.14 per share, marking an annualized dividend of $8.56 and a yield of 2.6%.

FORA Capital LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 23.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,345 shares of the company's stock after selling 2,208 shares during the quarter. FORA Capital LLC's holdings in Snap-On were worth $2,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in Snap-On during the 4th quarter valued at about $233,000. Price T Rowe Associates Inc. MD lifted its stake in Snap-On by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,308 shares of the company's stock valued at $25,567,000 after acquiring an additional 770 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Snap-On by 9.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,984 shares of the company's stock valued at $1,013,000 after acquiring an additional 268 shares during the period. Northern Trust Corp lifted its stake in shares of Snap-On by 22.4% in the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after purchasing an additional 145,861 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Snap-On by 81.5% in the 4th quarter. Lido Advisors LLC now owns 1,884 shares of the company's stock worth $639,000 after purchasing an additional 846 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares in the company, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,160 shares of company stock worth $16,650,792 over the last three months. 3.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNA. Tigress Financial increased their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird increased their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Price Performance

Shares of SNA stock traded down $2.01 on Friday, reaching $325.14. The company's stock had a trading volume of 172,805 shares, compared to its average volume of 236,053. The stock's fifty day simple moving average is $322.31 and its 200-day simple moving average is $323.72. Snap-On Incorporated has a 1 year low of $268.90 and a 1 year high of $373.89. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.96 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its 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. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $5.07 earnings per share. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

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

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.