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

Good Life Advisors LLC decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161 shares of the company’s stock after selling 35 shares during the period. Good Life Advisors LLC’s holdings in Snap-on were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Snap-on in the second quarter worth $4,571,000. SG Americas Securities LLC grew its stake in shares of Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after acquiring an additional 3,238 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Snap-on in the second quarter worth $3,653,000. LSV Asset Management grew its stake in shares of Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock worth $199,753,000 after purchasing an additional 3,535 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in shares of Snap-on by 105.5% during the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNA shares. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday. Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Snap-on has an average rating of “Hold” and a consensus target price of $327.40.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,848 shares of company stock worth $9,884,486. 4.10% of the stock is owned by company insiders.

Snap-on Trading Down 0.5 %

NYSE SNA opened at $326.09 on Friday. The stock has a market capitalization of $17.19 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.06 and a beta of 0.98. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $330.51. The firm has a 50-day moving average price of $284.18 and a 200 day moving average price of $276.68. 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 (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping 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 firm 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 posted $4.89 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts expect that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s payout ratio is currently 39.03%.

Snap-on announced that its board has approved a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.