Martingale Asset Management L P Sells 3,048 Shares of Snap-On Incorporated $SNA

Key Points

• Martingale Asset Management L P reduced its stake in Snap-On Incorporated by 5.1%, selling 3,048 shares and now owns 56,626 shares valued at $19.08 million.
• Snap-On reported earnings per share of $4.72 for the last quarter, surpassing the consensus estimate of $4.61, with revenues of $1.18 billion.
• The company announced a quarterly dividend of $2.14 per share, resulting in an annualized yield of 2.6%, to be paid on September 10th.

Martingale Asset Management L P cut its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,626 shares of the company's stock after selling 3,048 shares during the period. Martingale Asset Management L P owned 0.11% of Snap-On worth $19,084,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Horizon Investments LLC raised its holdings in shares of Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock worth $261,000 after buying an additional 32 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in Snap-On by 0.7% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock worth $1,553,000 after acquiring an additional 32 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of Snap-On by 0.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after purchasing an additional 34 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida lifted its holdings in Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Price Performance

Shares of SNA stock opened at $323.2710 on Thursday. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76. Snap-On Incorporated has a 12-month low of $268.90 and a 12-month high of $373.89. 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 firm has a fifty day moving average of $319.74 and a 200-day moving average of $324.66.

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, 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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $5.07 earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

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

Analyst Ratings Changes

SNA has been the subject of a number of recent analyst reports. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird raised their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America boosted their price objective on 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Snap-On currently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,160 shares of company stock valued at $16,650,792. 3.90% of the stock is currently owned by corporate insiders.

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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