SYSTM Wealth Solutions LLC Cuts Stake in Snap-on Incorporated (NYSE:SNA)

SYSTM Wealth Solutions LLC reduced its position in Snap-on Incorporated (NYSE:SNA) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,650 shares of the company’s stock after selling 1,641 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Snap-on were worth $654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. J. W. Coons Advisors LLC raised its position in shares of Snap-on by 2.3% during the 1st quarter. J. W. Coons Advisors LLC now owns 1,899 shares of the company’s stock worth $469,000 after purchasing an additional 42 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Snap-on by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 9,808 shares of the company’s stock worth $2,241,000 after purchasing an additional 44 shares during the last quarter. Shaker Investments LLC OH raised its position in shares of Snap-on by 0.7% during the 4th quarter. Shaker Investments LLC OH now owns 6,057 shares of the company’s stock worth $1,384,000 after purchasing an additional 45 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Snap-on by 0.5% during the 4th quarter. Quantinno Capital Management LP now owns 8,934 shares of the company’s stock worth $2,041,000 after purchasing an additional 46 shares during the last quarter. Finally, Acropolis Investment Management LLC raised its position in shares of Snap-on by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 6,746 shares of the company’s stock worth $1,666,000 after purchasing an additional 46 shares during the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Snap-on stock opened at $268.60 on Friday. The firm has a 50 day simple moving average of $276.33 and a 200-day simple moving average of $260.27. Snap-on Incorporated has a 1-year low of $200.75 and a 1-year high of $297.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.67 and a quick ratio of 2.58. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.31. Snap-on had a net margin of 21.06% and a return on equity of 21.38%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $4.27 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts expect that Snap-on Incorporated will post 18.45 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.62 dividend. The ex-dividend date is Thursday, August 17th. This represents a $6.48 annualized dividend and a dividend yield of 2.41%. Snap-on’s dividend payout ratio (DPR) is 35.90%.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Roth Capital upgraded shares of Snap-on from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. StockNews.com assumed coverage on shares of Snap-on in a research report on Thursday, August 17th. They set a “buy” rating for the company. 888 reaffirmed a “reiterates” rating on shares of Snap-on in a research note on Wednesday, May 24th. Tigress Financial upped their price objective on shares of Snap-on from $302.00 to $328.00 in a research note on Wednesday, June 21st. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $296.83.

Insider Activity

In other news, SVP Timothy L. Chambers sold 4,598 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $289.07, for a total value of $1,329,143.86. Following the completion of the sale, the senior vice president now owns 13,276 shares of the company’s stock, valued at approximately $3,837,693.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Timothy L. Chambers sold 4,598 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $289.07, for a total transaction of $1,329,143.86. Following the completion of the transaction, the senior vice president now owns 13,276 shares of the company’s stock, valued at approximately $3,837,693.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 4,108 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $271.11, for a total transaction of $1,113,719.88. Following the transaction, the chief financial officer now directly owns 84,714 shares of the company’s stock, valued at approximately $22,966,812.54. The disclosure for this sale can be found here. Insiders sold a total of 34,896 shares of company stock valued at $9,898,471 in the last 90 days. Company insiders own 4.20% of the company’s stock.

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.