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

Denali Advisors LLC lessened its stake in Snap-on Incorporated (NYSE:SNA) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,709 shares of the company’s stock after selling 800 shares during the quarter. Denali Advisors LLC’s holdings in Snap-on were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its holdings in Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after buying an additional 2,542 shares in the last quarter. Bridgefront Capital LLC purchased a new position in Snap-on in the 4th quarter valued at approximately $1,119,000. Rockland Trust Co. purchased a new stake in Snap-on during the first quarter worth $889,000. Goldman Sachs Group Inc. grew its holdings in Snap-on by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock valued at $78,401,000 after purchasing an additional 28,566 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Snap-on during the 4th quarter worth $1,203,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

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

Snap-on Price Performance

SNA stock opened at $256.85 on Thursday. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The stock’s fifty day simple moving average is $269.76 and its 200-day simple moving average is $279.32.

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

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.90%. Snap-on’s payout ratio is 39.03%.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap-on news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares of the company’s stock, valued at $66,822.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was 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 directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. 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 ninety days. Insiders own 4.10% of the company’s stock.

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.