Snap-on Incorporated (NYSE:SNA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 47.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,385 shares of the company’s stock after selling 3,899 shares during the period. Inspire Investing LLC’s holdings in Snap-on were worth $1,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Scarborough Advisors LLC acquired a new position in shares of Snap-on during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter valued at $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on during the 2nd quarter valued at $32,000. Versant Capital Management Inc lifted its holdings in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Snap-on during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,804 shares of company stock valued at $8,077,390. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Snap-on stock opened at $286.17 on Friday. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm’s fifty day moving average price is $276.96 and its 200 day moving average price is $276.69.

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

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

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is currently 39.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Robert W. Baird dropped their price target 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and a consensus target price 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.