Jones Financial Companies Lllp Sells 15,378 Shares of Snap-On Incorporated $SNA

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in Snap-On Incorporated by 82.7%, selling 15,378 shares and owning only 3,222 shares worth approximately $1,086,000 post-sale.
• Insider transactions highlighted CFO Aldo John Pagliari and CEO Nicholas T. Pinchuk selling a combined total of 27,898 shares valued at over $8.9 million in recent months.
• Snap-On's stock received mixed ratings from analysts, with an average target price of $357.00, while the company recently reported earnings surpassing estimates with $4.72 EPS for the last quarter.

Jones Financial Companies Lllp lowered its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,222 shares of the company's stock after selling 15,378 shares during the period. Jones Financial Companies Lllp's holdings in Snap-On were worth $1,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNA. Alpine Bank Wealth Management bought a new position in shares of Snap-On in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC boosted its stake in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after purchasing an additional 72 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On during the first quarter worth $35,000. Finally, ORG Partners LLC raised its holdings in shares of Snap-On by 150.8% in the first 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. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SNA shares. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Tigress Financial increased their price target on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Robert W. Baird increased their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Four investment 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. According to MarketBeat.com, Snap-On presently has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Trading Up 0.5%

Shares of SNA opened at $333.70 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock has a 50-day moving average price of $324.94 and a 200 day moving average price of $322.95. Snap-On Incorporated has a one year low of $278.75 and a one year high of $373.89. The company has a market capitalization of $17.41 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.31 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $5.07 EPS. The business's revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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

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.

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