Snap-on Incorporated (NYSE:SNA) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,527 shares of the company’s stock after selling 86 shares during the period. Snap-on makes up approximately 1.5% of CapWealth Advisors LLC’s investment portfolio, making the stock its 29th largest holding. CapWealth Advisors LLC owned 0.08% of Snap-on worth $11,639,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in Snap-on by 2.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock valued at $529,000 after buying an additional 36 shares during the period. Renasant Bank increased its stake in shares of Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after acquiring an additional 36 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in shares of Snap-on by 3.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after acquiring an additional 37 shares during the last quarter. TFB Advisors LLC raised its holdings in shares of Snap-on by 3.2% during the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its position in Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after purchasing an additional 39 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Down 2.5 %

Snap-on stock opened at $272.09 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The firm has a fifty day moving average price of $272.97 and a two-hundred day moving average price of $276.23. The firm has a market cap of $14.33 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.97 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.89 EPS. As a group, analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock valued at $8,077,390 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Robert W. Baird reduced their price objective 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, Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and an average price target of $315.00.

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.