Prime Capital Investment Advisors LLC Sells 1,346 Shares of Snap-On Incorporated $SNA

Key Points

• Prime Capital Investment Advisors LLC sold 1,346 shares of Snap-On, reducing its holdings by 29.2%, leaving them with 3,265 shares valued at approximately $1,016,000.
• CEO Nicholas T. Pinchuk sold 23,042 shares at an average price of $320.88, while CFO Aldo John Pagliari sold 4,731 shares at $327.38, indicating a decrease in insider ownership.
• Research analysts have boosted their price targets for Snap-On, with a consensus target price of $357.00 and ratings ranging from "Buy" to "Underperform" from various firms.

Prime Capital Investment Advisors LLC decreased its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 29.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,265 shares of the company's stock after selling 1,346 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Snap-On were worth $1,016,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Snap-On in the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC bought a new position in Snap-On in the second quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its stake in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after buying an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in Snap-On in the first quarter valued at approximately $34,000. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction on Thursday, August 14th. The shares were 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 in the company, valued at approximately $36,557,542.46. This represents 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 have sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Wednesday. Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Price Performance

Shares of SNA opened at $332.17 on Friday. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.36 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $285.00 and a 1-year high of $373.89. The company's fifty day simple moving average is $331.01 and its 200 day simple moving average is $323.85. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 20.98% and a return on equity of 18.02%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $5.07 earnings per share. On average, research analysts forecast 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 Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's payout ratio is presently 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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