Cwm LLC Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Cwm LLC lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,332 shares of the company’s stock after selling 67 shares during the period. Cwm LLC’s holdings in Snap-on were worth $1,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. Brookstone Capital Management raised its stake in Snap-on by 25.4% in the 3rd quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock worth $323,000 after acquiring an additional 226 shares during the last quarter. Bridge Creek Capital Management LLC acquired a new position in shares of Snap-on in the third quarter valued at about $203,000. City Center Advisors LLC increased its holdings in shares of Snap-on by 27.9% in the third quarter. City Center Advisors LLC now owns 931 shares of the company’s stock valued at $270,000 after purchasing an additional 203 shares during the period. Czech National Bank raised its stake in shares of Snap-on by 6.8% in the third quarter. Czech National Bank now owns 10,732 shares of the company’s stock worth $3,109,000 after purchasing an additional 685 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Snap-on by 22.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 41,000 shares of the company’s stock worth $11,878,000 after buying an additional 7,652 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Snap-on news, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,848 shares of company stock valued at $9,884,486 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SNA shares. Robert W. Baird cut their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Tigress Financial reiterated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Friday, September 20th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th.

Snap-on Stock Down 0.3 %

Shares of NYSE SNA opened at $295.68 on Wednesday. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98. The company’s 50-day simple moving average is $281.00 and its 200-day simple moving average is $276.06. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $302.64.

Snap-on (NYSE:SNA) last released 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. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $4.89 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

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

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.52%. Snap-on’s payout ratio is 39.03%.

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.