Snap-On Incorporated $SNA Shares Sold by Albert D Mason Inc.

Key Points

• Albert D Mason Inc. reduced its stake in Snap-On Incorporated by 8.3%, owning 8,482 shares valued at approximately $2.64 million after the sale.
• Key insiders sold significant shares, with CFO Aldo John Pagliari selling 4,731 shares and CEO Nicholas T. Pinchuk selling 23,042 shares, representing decreases in their positions of 4.06% and 2.75%, respectively.
• Analysts maintain a generally positive outlook, with the average price target for Snap-On stock set at $363.57, reflecting a "Moderate Buy" rating from multiple research firms.

Albert D Mason Inc. cut its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,482 shares of the company's stock after selling 768 shares during the period. Snap-On comprises approximately 1.9% of Albert D Mason Inc.'s investment portfolio, making the stock its 5th biggest position. Albert D Mason Inc.'s holdings in Snap-On were worth $2,639,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Choreo LLC increased its holdings in Snap-On by 78.3% in the first quarter. Choreo LLC now owns 7,218 shares of the company's stock valued at $2,432,000 after purchasing an additional 3,170 shares during the period. Advisors Capital Management LLC increased its holdings in Snap-On by 5.3% in the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company's stock valued at $418,000 after purchasing an additional 63 shares during the period. Jump Financial LLC increased its holdings in Snap-On by 367.7% in the first quarter. Jump Financial LLC now owns 5,523 shares of the company's stock valued at $1,861,000 after purchasing an additional 4,342 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Snap-On in the first quarter valued at $1,986,000. Finally, Ascent Group LLC acquired a new stake in Snap-On in the first quarter valued at $421,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction 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. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last three months. Insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNA. Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Roth Capital restated a "buy" rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Wednesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average price target of $363.57.

Snap-On Stock Performance

Shares of Snap-On stock opened at $339.61 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.42 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $332.77 and a two-hundred day moving average price of $323.84. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a market cap of $17.72 billion, a P/E ratio of 17.81, a PEG ratio of 2.39 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.70 EPS. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's dividend payout ratio is 44.89%.

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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