Snap-on Incorporated (NYSE:SNA) Shares Sold by Lane & Associates LLC

Lane & Associates LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 13.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 909 shares of the company’s stock after selling 147 shares during the period. Lane & Associates LLC’s holdings in Snap-on were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNA. Rafferty Asset Management LLC lifted its position in shares of Snap-on by 10.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,208 shares of the company’s stock valued at $1,073,000 after acquiring an additional 397 shares during the last quarter. FMR LLC raised its stake in Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock valued at $39,381,000 after purchasing an additional 107,582 shares during the period. Invesco Ltd. raised its stake in Snap-on by 11.7% during the 3rd quarter. Invesco Ltd. now owns 568,985 shares of the company’s stock valued at $145,125,000 after purchasing an additional 59,582 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Snap-on in the third quarter worth $181,000. Finally, LPL Financial LLC increased its stake in shares of Snap-on by 20.7% in the third quarter. LPL Financial LLC now owns 33,821 shares of the company’s stock worth $8,626,000 after acquiring an additional 5,793 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,336 shares of company stock worth $10,563,314. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Up 1.1 %

NYSE:SNA traded up $2.86 during trading hours on Monday, reaching $269.61. The company’s stock had a trading volume of 80,246 shares, compared to its average volume of 291,835. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. The business’s 50-day moving average is $272.01 and its 200-day moving average is $280.55. The company has a market cap of $14.21 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned $4.60 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, May 17th. Snap-on’s payout ratio is presently 39.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.75.

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.