Personal CFO Solutions LLC Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Personal CFO Solutions LLC cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,029 shares of the company’s stock after selling 50 shares during the quarter. Personal CFO Solutions LLC’s holdings in Snap-on were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. Barclays PLC grew its position in Snap-on by 75.8% in the second quarter. Barclays PLC now owns 107,011 shares of the company’s stock worth $30,839,000 after acquiring an additional 46,146 shares in the last quarter. Beverly Hills Private Wealth LLC increased its position in shares of Snap-on by 105.3% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 4,742 shares of the company’s stock valued at $1,291,000 after purchasing an additional 2,432 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Snap-on during the 1st quarter valued at about $222,000. Cibc World Markets Corp lifted its position in Snap-on by 131.3% in the 2nd quarter. Cibc World Markets Corp now owns 6,212 shares of the company’s stock worth $1,790,000 after buying an additional 3,526 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Snap-on by 4.0% in the second quarter. New Mexico Educational Retirement Board now owns 2,596 shares of the company’s stock worth $748,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Snap-on Stock Up 1.1 %

Shares of NYSE:SNA opened at $277.76 on Monday. The stock’s 50-day moving average is $259.80 and its 200 day moving average is $266.45. The company has a market cap of $14.66 billion, a PE ratio of 15.08, a P/E/G ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.67 and a quick ratio of 2.62. Snap-on Incorporated has a 1 year low of $220.21 and a 1 year high of $297.26.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 19th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.07. Snap-on had a return on equity of 21.20% and a net margin of 21.21%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Snap-on Incorporated will post 18.62 EPS for the current year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.68%. This is a boost from Snap-on’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Monday, November 20th. Snap-on’s dividend payout ratio (DPR) is currently 35.18%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNA. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Thursday, October 19th. Tigress Financial boosted their price target on shares of Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Monday, July 24th. Finally, StockNews.com assumed coverage on Snap-on in a research note on Thursday, October 5th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $298.17.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total value of $1,269,233.46. Following the completion of the sale, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 22,078 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $258.16, for a total value of $5,699,656.48. Following the completion of the transaction, the chief executive officer now directly owns 697,506 shares in the company, valued at approximately $180,068,148.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,842 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the sale, the chief financial officer now owns 86,888 shares in the company, valued at approximately $22,775,951.44. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

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.