Snap-on Incorporated (NYSE:SNA) Shares Sold by Lantz Financial LLC

Lantz Financial LLC cut its stake in Snap-on Incorporated (NYSE:SNA) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,633 shares of the company’s stock after selling 59 shares during the period. Snap-on makes up approximately 1.0% of Lantz Financial LLC’s holdings, making the stock its 20th largest holding. Lantz Financial LLC’s holdings in Snap-on were worth $2,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. Envestnet Asset Management Inc. raised its position in Snap-on by 968.6% during the first quarter. Envestnet Asset Management Inc. now owns 5,349,981 shares of the company’s stock worth $134,881,000 after acquiring an additional 4,849,325 shares during the last quarter. Norges Bank acquired a new position in shares of Snap-on during the 4th quarter worth approximately $112,490,000. Wellington Management Group LLP lifted its stake in Snap-on by 7,194.3% in the 1st quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock valued at $49,551,000 after buying an additional 237,843 shares in the last quarter. Schroder Investment Management Group grew its holdings in Snap-on by 33.0% during the 4th quarter. Schroder Investment Management Group now owns 487,040 shares of the company’s stock valued at $111,284,000 after buying an additional 120,846 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Snap-on by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,093 shares of the company’s stock worth $289,975,000 after buying an additional 114,488 shares in the last quarter. 83.90% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Down 0.6 %

Shares of SNA stock traded down $1.57 during mid-day trading on Tuesday, reaching $259.12. 15,631 shares of the company were exchanged, compared to its average volume of 280,696. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.58 and a current ratio of 3.67. The business’s 50 day simple moving average is $271.47 and its 200 day simple moving average is $261.56. The company has a market capitalization of $13.71 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.77 and a beta of 1.10. Snap-on Incorporated has a fifty-two week low of $200.75 and a fifty-two week high of $297.26.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, topping 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $4.27 earnings per share. Snap-on’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts predict that Snap-on Incorporated will post 18.45 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a $1.62 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.48 annualized dividend and a dividend yield of 2.50%. Snap-on’s payout ratio is currently 35.90%.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com initiated coverage on Snap-on in a research note on Thursday, August 17th. They set a “buy” rating on the stock. 888 reissued a “reiterates” rating on shares of Snap-on in a research report on Wednesday, May 24th. Tigress Financial raised their price objective on Snap-on from $302.00 to $328.00 in a report on Wednesday, June 21st. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, July 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Monday, August 14th. One investment 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. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average target price of $296.83.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 4,842 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 86,888 shares of the company’s stock, valued at $22,775,951.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snap-on news, VP Iain Boyd sold 4,537 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $289.07, for a total value of $1,311,510.59. Following the sale, the vice president now directly owns 7,345 shares in the company, valued at $2,123,219.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,842 shares of the business’s stock in a transaction that occurred on 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 $22,775,951.44. The disclosure for this sale can be found here. Insiders have sold a total of 27,620 shares of company stock worth $7,856,761 in the last three months. 4.20% of the stock is owned by company insiders.

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.