Snap-on Incorporated (NYSE:SNA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Snap-on Incorporated (NYSE:SNAGet Rating) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 26,321 shares of the company’s stock after selling 885 shares during the period. State of Alaska Department of Revenue’s holdings in Snap-on were worth $5,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Stonnington Group LLC grew its holdings in shares of Snap-on by 20.7% in the 2nd quarter. Stonnington Group LLC now owns 6,576 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,126 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Snap-on by 2.5% in the 2nd quarter. DnB Asset Management AS now owns 18,130 shares of the company’s stock worth $3,572,000 after acquiring an additional 444 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Snap-on by 9.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 73,264 shares of the company’s stock worth $14,435,000 after acquiring an additional 6,426 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Snap-on by 0.8% during the second quarter. Confluence Investment Management LLC now owns 659,919 shares of the company’s stock valued at $130,024,000 after buying an additional 5,007 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Snap-on during the first quarter valued at $26,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 488 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $223.31, for a total transaction of $108,975.28. Following the transaction, the senior vice president now directly owns 2,409 shares in the company, valued at $537,953.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Jesus Arregui sold 488 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $223.31, for a total value of $108,975.28. Following the sale, the senior vice president now directly owns 2,409 shares in the company, valued at approximately $537,953.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,607 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total value of $1,453,804.28. Following the completion of the sale, the chief financial officer now owns 73,114 shares in the company, valued at $16,088,004.56. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNA. MKM Partners began coverage on Snap-on in a report on Thursday, June 9th. They set a “neutral” rating and a $238.00 price target on the stock. UBS Group reduced their price objective on Snap-on to $175.00 in a research report on Friday, July 22nd.

Snap-on Price Performance

Shares of NYSE:SNA opened at $217.24 on Wednesday. Snap-on Incorporated has a fifty-two week low of $190.08 and a fifty-two week high of $235.36. The business has a 50-day moving average of $219.27 and a two-hundred day moving average of $213.66. The stock has a market capitalization of $11.57 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.37.

Snap-on (NYSE:SNAGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.91 by $0.36. Snap-on had a return on equity of 20.51% and a net margin of 19.83%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm earned $3.76 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Snap-on Incorporated will post 16.14 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were paid a dividend of $1.42 per share. The ex-dividend date was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 2.61%. Snap-on’s dividend payout ratio is 35.63%.

Snap-on Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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