Northwestern Mutual Wealth Management Co. Has $268,000 Holdings in Snap-On Incorporated $SNA

Key Points

• Northwestern Mutual Wealth Management Co. significantly decreased its stake in Snap-On Incorporated by 78.4%, now holding 795 shares valued at approximately $268,000.
• Snap-On reported $4.72 EPS for the quarter, surpassing analysts' expectations of $4.61, despite a slight decline from the previous year's $5.07 EPS.
• The company announced a quarterly dividend of $2.14, signaling an annualized dividend of $8.56 and a dividend yield of 2.7%.

Northwestern Mutual Wealth Management Co. cut its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 78.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 795 shares of the company's stock after selling 2,885 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Snap-On were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SNA. Alpine Bank Wealth Management bought a new stake in Snap-On during the 1st quarter valued at approximately $25,000. Golden State Wealth Management LLC raised its position in 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 acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. increased its position 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 worth $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On during the 1st quarter valued at about $35,000. Finally, ORG Partners LLC raised its position in Snap-On by 150.8% in the 1st 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. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In related news, 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 completion of the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,898 shares of company stock worth $8,983,203 over the last 90 days. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNA. Robert W. Baird upped their price objective on 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 target price on shares of Snap-On in a research note on Tuesday, July 15th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America lifted their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Tigress Financial boosted their target price on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Performance

NYSE SNA traded down $1.91 during trading on Monday, reaching $326.79. 59,234 shares of the company's stock were exchanged, compared to its average volume of 367,835. The stock has a market capitalization of $17.05 billion, a P/E ratio of 17.44, a PEG ratio of 2.29 and a beta of 0.77. Snap-On Incorporated has a fifty-two week low of $269.58 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The business has a 50 day moving average price of $323.96 and a 200-day moving average price of $323.10.

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

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $2.14 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

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.