Snap-on Incorporated (NYSE:SNA) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,664 shares of the company’s stock after selling 158 shares during the quarter. Benjamin Edwards Inc.’s holdings in Snap-on were worth $1,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in Snap-on in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on in the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new position in Snap-on in the 2nd quarter worth about $32,000. Fidelis Capital Partners LLC bought a new position in shares of Snap-on in the first quarter valued at approximately $56,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Snap-on by 529.0% in the second 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. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Up 2.0 %

SNA 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 quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.95 and a beta of 0.98. The company has a 50 day moving average of $276.96 and a two-hundred day moving average of $276.69.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. 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 firm earned $4.89 EPS. Snap-on’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

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

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid 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 2.60%. Snap-on’s payout ratio is presently 39.03%.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,804 shares of company stock worth $8,077,390. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird decreased their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.00.

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.