Dearborn Partners LLC Cuts Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Key Points

• Dearborn Partners LLC reduced its stake in Snap-On Incorporated by 18.7%, holding 108,441 shares worth approximately $36.5 million after selling nearly 25,000 shares.
• Snap-On's stock is currently trading at $325.32, with a reported P/E ratio of 17.35 and a market cap of $16.97 billion.
• The company recently posted earnings of $4.72 per share, exceeding analysts' expectations and showing a year-over-year revenue increase of 0.0%.

Dearborn Partners LLC cut its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,441 shares of the company's stock after selling 24,961 shares during the period. Snap-On comprises about 1.8% of Dearborn Partners LLC's investment portfolio, making the stock its 13th largest position. Dearborn Partners LLC owned 0.21% of Snap-On worth $36,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SNA. Alpine Bank Wealth Management bought a new position in shares of Snap-On during the first quarter valued at approximately $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Snap-On during the first quarter valued at approximately $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction that occurred on Thursday, May 15th. The shares were 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 in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares of the company's stock, valued at $254,104,483.50. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock worth $9,482,532 in the last three months. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Down 1.1%

Shares of NYSE:SNA traded down $3.63 during trading on Friday, reaching $317.56. The stock had a trading volume of 339,782 shares, compared to its average volume of 393,530. Snap-On Incorporated has a one year low of $266.56 and a one year high of $373.89. The company has a market capitalization of $16.56 billion, a P/E ratio of 16.94, a PEG ratio of 2.24 and a beta of 0.76. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The firm's 50-day simple moving average is $319.00 and its 200 day simple moving average is $327.28.

Snap-On (NYSE:SNA - Get Free Report) last released its 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. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business earned $5.07 EPS. As a group, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNA. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird increased their price objective 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. Bank of America raised their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $356.17.

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.