Snap-On Incorporated $SNA Shares Sold by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group Ltd. has reduced its holdings in Snap-On Incorporated by 8.4%, now owning 11,054 shares valued at $3.44 million.
• Snap-On reported earnings of $4.71 per share for the recent quarter, exceeding analyst expectations, and its revenue increased by 3.8% year-over-year to $1.19 billion.
• The company announced a quarterly dividend of $2.14 per share with a yield of 2.5%, and the current payout ratio stands at 44.89%.

Stanley Laman Group Ltd. decreased its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,054 shares of the company's stock after selling 1,016 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Snap-On were worth $3,440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On in the second quarter valued at $30,000. Golden State Wealth Management LLC raised its stake in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position 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 buying an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Snap-On during the 1st quarter valued at $34,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Price Performance

Shares of NYSE SNA opened at $339.61 on Friday. The company has a quick ratio of 3.42, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The business has a 50 day moving average price of $332.77 and a two-hundred day moving average price of $323.84. The firm has a market cap of $17.72 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78.

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

Snap-On Dividend Announcement

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

Insiders Place Their Bets

In related 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 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 $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 available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's 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 completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock valued at $8,983,203 in the last quarter. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SNA. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday. Tigress Financial upped their target price on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Robert W. Baird raised their price target on Snap-On from $355.00 to $365.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Roth Capital reaffirmed a "buy" rating and set a $385.00 price target on shares of Snap-On in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $363.57.

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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