Moran Wealth Management LLC Decreases Stock Position in Snap-On Incorporated $SNA

Key Points

• Moran Wealth Management LLC reduced its stake in Snap-On Incorporated by 13.3%, now owning about 0.05% of the company valued at approximately $8.49 million.
• Insider transactions include CEO Nicholas T. Pinchuk and CFO Aldo John Pagliari each selling shares, with a combined value of approximately $9.94 million.
• Analysts maintain a largely positive outlook on Snap-On, with target prices ranging from $265 to $395 and an average rating of "Moderate Buy."

Moran Wealth Management LLC lowered its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,272 shares of the company's stock after selling 4,174 shares during the period. Moran Wealth Management LLC owned approximately 0.05% of Snap-On worth $8,487,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SNA. GAMMA Investing LLC increased its holdings in shares of Snap-On by 93.5% in the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock worth $703,000 after buying an additional 1,008 shares during the period. SG Americas Securities LLC increased its holdings in shares of Snap-On by 634.8% in the first quarter. SG Americas Securities LLC now owns 3,762 shares of the company's stock worth $1,268,000 after buying an additional 3,250 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Snap-On by 4.5% in the first quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company's stock worth $2,508,000 after buying an additional 320 shares during the period. CX Institutional purchased a new position in shares of Snap-On in the first quarter worth about $113,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Snap-On by 6.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company's stock worth $15,949,000 after purchasing an additional 2,790 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were 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 in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the business'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 transaction 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 approximately $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, September 23rd. Tigress Financial raised their target price on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Performance

Shares of SNA opened at $337.00 on Wednesday. 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 business's 50 day moving average price is $331.78 and its 200-day moving average price is $323.73. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The stock has a market cap of $17.58 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.31 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.16 billion. During the same period in the previous year, the firm posted $5.07 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal 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 issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On's payout ratio is presently 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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