HighTower Advisors LLC Trims Stock Holdings in Snap-On Incorporated $SNA

HighTower Advisors LLC lowered its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 11.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,209 shares of the company's stock after selling 5,177 shares during the quarter. HighTower Advisors LLC owned about 0.08% of Snap-On worth $16,180,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DV Equities LLC purchased a new position in shares of Snap-On during the 4th quarter worth approximately $25,000. Western Wealth Management LLC purchased a new stake in Snap-On in the first quarter valued at approximately $29,000. Quattro Advisors LLC acquired a new position in Snap-On during the fourth quarter worth $35,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock worth $36,000 after purchasing an additional 28 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Snap-On by 152.4% during the fourth quarter. Manchester Capital Management LLC now owns 106 shares of the company's stock worth $37,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In related news, VP Marty V. Ozolins sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president owned 1,526 shares of the company's stock, valued at $610,400. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of Snap-On stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the transaction, the vice president owned 4,529 shares of the company's stock, valued at $1,838,411.68. This represents a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 40,720 shares of company stock worth $16,500,198. Corporate insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNA shares. Tigress Financial lifted their price objective on Snap-On from $445.00 to $485.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Friday, July 17th. Roth Capital restated a "buy" rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Finally, Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an "overweight" rating and a $420.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $426.20.

Snap-On Stock Down 0.5%

Snap-On stock opened at $378.04 on Thursday. The firm has a market capitalization of $19.56 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.67 and a beta of 0.72. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a twelve month low of $320.80 and a twelve month high of $423.02. The stock's fifty day simple moving average is $401.85 and its 200-day simple moving average is $385.40.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business posted $4.72 earnings per share. Snap-On's revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 19th. Snap-On's dividend payout ratio (DPR) is presently 49.77%.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics and repair information. Its products include hand and power tools, tool storage, vehicle diagnostic systems, shop equipment, repair software and related services. The company serves professional technicians and customers in the automotive repair, commercial transportation, industrial, aviation, military, agriculture and other technical markets.

Snap-on sells products under the Snap-on brand and other brands, including Blue-Point, through a broad distribution network.

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