Snap-On Incorporated $SNA Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its holdings in Snap-On Incorporated by 24.4%, selling 19,602 shares and currently owning about 0.12% of the company worth $20.4 million.
• Several institutional investors have increased their stakes in Snap-On, with Choreo LLC growing its stake by 78.3% and Jump Financial LLC by 367.7% during the first quarter.
• CEO Nicholas T. Pinchuk sold 23,042 shares at an average price of $320.88, resulting in a total sale value of approximately $7.39 million, which decreased his ownership by 2.75%.

Alliancebernstein L.P. decreased its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,648 shares of the company's stock after selling 19,602 shares during the period. Alliancebernstein L.P. owned about 0.12% of Snap-On worth $20,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Choreo LLC grew its stake in shares of Snap-On by 78.3% during the first quarter. Choreo LLC now owns 7,218 shares of the company's stock worth $2,432,000 after purchasing an additional 3,170 shares in the last quarter. Jump Financial LLC grew its stake in shares of Snap-On by 367.7% during the first quarter. Jump Financial LLC now owns 5,523 shares of the company's stock worth $1,861,000 after purchasing an additional 4,342 shares in the last quarter. Credit Agricole S A grew its stake in shares of Snap-On by 7.3% during the first quarter. Credit Agricole S A now owns 15,842 shares of the company's stock worth $5,339,000 after purchasing an additional 1,072 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Snap-On during the first quarter worth $218,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Snap-On by 10.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,028 shares of the company's stock worth $123,018,000 after purchasing an additional 34,080 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Tigress Financial upped their price objective 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. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.00.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock valued at $8,983,203 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Snap-On Stock Performance

NYSE SNA opened at $324.21 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. Snap-On Incorporated has a 1 year low of $269.58 and a 1 year high of $373.89. The company has a market capitalization of $16.91 billion, a PE ratio of 17.29, a P/E/G ratio of 2.24 and a beta of 0.77. The company has a fifty day moving average of $324.47 and a two-hundred day moving average of $323.04.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company earned $5.07 earnings per share. The business's revenue was up .0% compared to the same quarter last year. As a group, analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's dividend payout ratio is presently 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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