Sigma Planning Corp Reduces Stock Position in Snap-On Incorporated (NYSE:SNA)

Sigma Planning Corp lowered its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 43.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,832 shares of the company's stock after selling 1,392 shares during the quarter. Sigma Planning Corp's holdings in Snap-On were worth $617,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new position in shares of Snap-On during the 1st quarter worth $8,139,000. MQS Management LLC purchased a new stake in Snap-On in the 1st quarter valued at about $409,000. CWM LLC raised its holdings in Snap-On by 6.8% in the 1st quarter. CWM LLC now owns 5,529 shares of the company's stock valued at $1,863,000 after buying an additional 351 shares during the period. Xponance Inc. raised its holdings in Snap-On by 105.0% in the 1st quarter. Xponance Inc. now owns 14,421 shares of the company's stock valued at $4,860,000 after buying an additional 7,388 shares during the period. Finally, Genus Capital Management Inc. raised its holdings in Snap-On by 184.7% in the 1st quarter. Genus Capital Management Inc. now owns 10,544 shares of the company's stock valued at $3,553,000 after buying an additional 22,988 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SNA. 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. Robert W. Baird boosted their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America upped their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $356.17.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director directly owned 8,030 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is owned by corporate insiders.

Snap-On Stock Performance

NYSE SNA traded down $1.25 on Friday, reaching $336.55. The stock had a trading volume of 619,623 shares, compared to its average volume of 369,908. Snap-On Incorporated has a 12-month low of $266.56 and a 12-month high of $373.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.48. The business's 50-day moving average price is $318.89 and its 200 day moving average price is $327.74. The stock has a market cap of $17.60 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 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 during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the business earned $5.07 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.54%. The ex-dividend date was Tuesday, May 20th. Snap-On's payout ratio is 44.82%.

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.