Inspire Investing LLC Decreases Stake in Snap-On Incorporated $SNA

Inspire Investing LLC reduced its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 74.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 945 shares of the company's stock after selling 2,762 shares during the quarter. Inspire Investing LLC's holdings in Snap-On were worth $318,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Alpine Bank Wealth Management purchased a new stake in shares of Snap-On in the first quarter worth about $25,000. Golden State Wealth Management LLC lifted 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 acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after acquiring an additional 72 shares during the period. Ransom Advisory Ltd acquired a new stake in Snap-On in the first quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Snap-On during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Tigress Financial raised their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird lifted their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Four 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. Based on data from MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $357.00.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the sale, the chief financial officer owned 111,667 shares in the company, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares of the company's stock, 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 a total of 27,898 shares of company stock valued at $8,983,203 over the last three months. 3.90% of the stock is currently owned by company insiders.

Snap-On Price Performance

SNA opened at $331.11 on Thursday. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The company's 50-day moving average price is $326.00 and its 200 day moving average price is $322.88. Snap-On Incorporated has a fifty-two week low of $280.27 and a fifty-two week high of $373.89. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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

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.

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