Townsend & Associates Inc Sells 1,614 Shares of Snap-On Incorporated $SNA

Townsend & Associates Inc lessened its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,276 shares of the company's stock after selling 1,614 shares during the period. Snap-On comprises approximately 1.7% of Townsend & Associates Inc's investment portfolio, making the stock its 19th largest holding. Townsend & Associates Inc owned 0.10% of Snap-On worth $16,935,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNA. GAMMA Investing LLC raised its holdings in Snap-On by 93.5% during the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock worth $703,000 after acquiring an additional 1,008 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Snap-On by 6.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company's stock worth $15,949,000 after acquiring an additional 2,790 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Snap-On by 9.6% during the first quarter. Exchange Traded Concepts LLC now owns 946 shares of the company's stock worth $319,000 after acquiring an additional 83 shares in the last quarter. ORG Partners LLC raised its holdings in Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after acquiring an additional 95 shares in the last quarter. Finally, Absher Wealth Management LLC raised its holdings in Snap-On by 7.6% during the first quarter. Absher Wealth Management LLC now owns 76,207 shares of the company's stock worth $25,683,000 after acquiring an additional 5,398 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Price Performance

Snap-On stock opened at $339.61 on Monday. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The stock's 50 day moving average is $332.77 and its 200-day moving average is $323.68. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.36 and a beta of 0.78.

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

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date of this dividend 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 44.89%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Saturday. Roth Capital reissued a "buy" rating and set a $385.00 price target on shares of Snap-On in a research report on Friday. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Finally, Tigress Financial boosted their price target on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $363.57.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction that occurred 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 directly owned 111,667 shares in the company, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 in the last ninety days. 3.90% of the stock is owned by company insiders.

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.

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