Gateway Investment Advisers LLC Sells 84 Shares of Snap-on Incorporated (NYSE:SNA)

Gateway Investment Advisers LLC cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693 shares of the company’s stock after selling 84 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Snap-on were worth $205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC bought a new position in shares of Snap-on during the fourth quarter valued at $30,000. BKM Wealth Management LLC bought a new position in shares of Snap-on during the fourth quarter valued at $33,000. Exchange Traded Concepts LLC bought a new position in shares of Snap-on during the fourth quarter valued at $43,000. Fortitude Family Office LLC bought a new position in shares of Snap-on during the fourth quarter valued at $49,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Snap-on during the fourth quarter valued at $53,000. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares of the company’s stock, valued at approximately $66,822.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,632 shares of company stock valued at $10,353,409. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.5 %

Shares of NYSE:SNA opened at $261.73 on Thursday. The stock has a market capitalization of $13.80 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock’s 50-day simple moving average is $270.82 and its two-hundred day simple moving average is $280.23. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49.

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

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were given a $1.86 dividend. The ex-dividend date was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.84%. Snap-on’s payout ratio is 39.03%.

Wall Street Analysts Forecast Growth

SNA has been the subject of several analyst reports. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Robert W. Baird dropped their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.75.

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.