Snap-On Incorporated $SNA Shares Sold by Archford Capital Strategies LLC

Key Points

• Archford Capital Strategies LLC reduced its position in Snap-On Incorporated by 55.3% during the 2nd quarter, holding 3,220 shares worth $1,002,000 after selling 3,989 shares.
• Several analysts have recently upgraded their price targets for Snap-On, with a consensus rating of "Moderate Buy" and a target price of $357.00.
• The company reported $4.72 EPS for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $2.14 paid to shareholders.

Archford Capital Strategies LLC trimmed its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 55.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,220 shares of the company's stock after selling 3,989 shares during the quarter. Archford Capital Strategies LLC's holdings in Snap-On were worth $1,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC boosted its holdings in Snap-On by 421.1% in the 1st 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 during the last quarter. Ransom Advisory Ltd acquired a new position in Snap-On in the 1st quarter valued at about $34,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after acquiring an additional 72 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snap-On in the 1st quarter worth approximately $35,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on SNA shares. Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, September 23rd. Tigress Financial upped their price objective on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Finally, Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Four equities research 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's stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Trading Up 0.7%

Shares of NYSE:SNA opened at $344.41 on Tuesday. Snap-On Incorporated has a 52 week low of $284.38 and a 52 week high of $373.89. The company's 50 day moving average is $328.61 and its two-hundred day moving average is $323.12. 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 company has a market cap of $17.97 billion, a PE ratio of 18.37, a P/E/G ratio of 2.38 and a beta of 0.77.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $5.07 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business 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. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On's dividend payout ratio is presently 45.65%.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction on 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 sale, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. Company insiders own 3.90% of the company's stock.

Snap-On 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.

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.