Snap-On Incorporated (NYSE:SNA) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion has reduced its stake in Snap-On Incorporated by 5.6%, now holding 30,393 shares worth approximately $9.96 million.
• Snap-On's recent earnings report indicated $4.72 earnings per share for the last quarter, exceeding analyst estimates and showing a slight increase in revenue compared to the previous year.
• Analysts have generally rated Snap-On shares as a "Moderate Buy", with varied price targets ranging from $265 to $350.

Sienna Gestion lowered its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,393 shares of the company's stock after selling 1,812 shares during the quarter. Sienna Gestion owned 0.06% of Snap-On worth $9,956,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNA. TrinityPoint Wealth LLC increased its position in shares of Snap-On by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after buying an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after acquiring an additional 34 shares in the last quarter. Canandaigua National Trust Co of Florida raised its position in shares of Snap-On by 5.4% in 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 in the last quarter. Advisors Capital Management LLC increased its holdings in shares of Snap-On by 3.4% in the 4th quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after acquiring an additional 39 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in Snap-On by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 3,073 shares of the company's stock worth $1,043,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SNA shares. Bank of America increased their price target 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 increased their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $356.17.

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm'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 in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,304 shares of company stock worth $15,061,306. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Performance

Shares of NYSE SNA opened at $333.90 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock has a 50 day moving average price of $319.37 and a 200 day moving average price of $325.69. The stock has a market capitalization of $17.42 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76. Snap-On Incorporated has a 52 week low of $268.90 and a 52 week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last announced 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. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $5.07 earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid 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 is Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is 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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