B. Riley Wealth Advisors Inc. Sells 1,322 Shares of Snap-on Incorporated (NYSE:SNA)

B. Riley Wealth Advisors Inc. reduced its position in Snap-on Incorporated (NYSE:SNA) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,343 shares of the company’s stock after selling 1,322 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Snap-on were worth $612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bridgefront Capital LLC purchased a new position in Snap-on in the fourth quarter valued at about $1,119,000. Rockland Trust Co. purchased a new position in Snap-on in the first quarter valued at about $889,000. Goldman Sachs Group Inc. grew its stake 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. Manning & Napier Advisors LLC purchased a new position in Snap-on in the second quarter valued at about $4,571,000. Finally, SG Americas Securities LLC grew its stake in Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after purchasing an additional 3,238 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of NYSE SNA opened at $286.74 on Friday. The business’s 50 day moving average price is $279.91 and its 200 day moving average price is $276.36. The firm has a market cap of $15.11 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.02 and a beta of 0.98. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. 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 issued its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. 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 19.90% and a net margin of 21.90%. Snap-on’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.89 earnings per share. On average, sell-side analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current year.

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

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is presently 39.03%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Friday, September 20th. Robert W. Baird dropped their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th.

Snap-on 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.