Leavell Investment Management Inc. Sells 987 Shares of Snap-On Incorporated (NYSE:SNA)

Leavell Investment Management Inc. trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 46.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,139 shares of the company's stock after selling 987 shares during the quarter. Leavell Investment Management Inc.'s holdings in Snap-On were worth $384,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On during the first quarter worth $25,000. Golden State Wealth Management LLC boosted its stake in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 shares during the period. Opal Wealth Advisors LLC bought a new position in Snap-On during the 1st quarter worth about $35,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-On in the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Snap-On by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,815 shares of company stock worth $9,482,532. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SNA shares. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Monday, May 19th. Finally, Robert W. Baird decreased their target price on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-On Stock Down 1.0%

NYSE:SNA opened at $317.65 on Friday. Snap-On Incorporated has a twelve month low of $266.55 and a twelve month high of $373.90. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average price is $317.94 and its two-hundred day moving average price is $328.35.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter in the previous year, the firm posted $4.91 earnings per share. Equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.69%. Snap-On's payout ratio is 44.82%.

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.

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