RFG Advisory LLC Sells 69 Shares of Snap-on Incorporated (NYSE:SNA)

RFG Advisory LLC lessened its position in Snap-on Incorporated (NYSE:SNA) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,448 shares of the company’s stock after selling 69 shares during the period. RFG Advisory LLC’s holdings in Snap-on were worth $2,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. Earnest Partners LLC lifted its position in Snap-on by 9.9% during the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after purchasing an additional 83,686 shares during the period. Nordea Investment Management AB lifted its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after purchasing an additional 27,429 shares during the period. Dimensional Fund Advisors LP lifted its position in Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after purchasing an additional 3,449 shares during the period. Envestnet Asset Management Inc. raised its position in Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock worth $218,203,000 after acquiring an additional 16,972 shares during the period. Finally, LSV Asset Management raised its position in Snap-on by 0.5% in the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock worth $199,753,000 after acquiring an additional 3,535 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE SNA traded down $5.45 on Monday, hitting $267.74. 220,360 shares of the company’s stock traded hands, compared to its average volume of 299,325. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The firm’s 50-day moving average price is $268.62 and its two-hundred day moving average price is $276.54. The firm has a market capitalization of $14.11 billion, a PE ratio of 14.05, a P/E/G ratio of 1.89 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $4.89 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts expect that Snap-on Incorporated will post 18.97 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Monday, August 19th. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on declared that its board has authorized a share buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the subject of a number of analyst reports. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird cut their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snap-on news, SVP Jesus Arregui sold 8,434 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the completion of the transaction, the senior vice president now directly owns 252 shares in the company, valued at $66,822.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the transaction, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. Insiders sold a total of 38,632 shares of company stock worth $10,353,409 in the last three months. Company insiders own 4.10% of the company’s stock.

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.