Orca Investment Management LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA – Get Rating) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,753 shares of the company's stock after selling 89 shares during the period. Orca Investment Management LLC's holdings in Snap-on were worth $739,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SNA. J.W. Cole Advisors Inc. purchased a new stake in Snap-on during the 1st quarter worth approximately $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Snap-on in the 1st quarter valued at $27,000. Parkside Financial Bank & Trust boosted its holdings in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company's stock valued at $27,000 after acquiring an additional 47 shares during the last quarter. Zullo Investment Group Inc. boosted its holdings in shares of Snap-on by 391.7% in the 1st quarter. Zullo Investment Group Inc. now owns 177 shares of the company's stock valued at $36,000 after acquiring an additional 141 shares during the last quarter. Finally, Bromfield Sneider Wealth Advisors purchased a new stake in shares of Snap-on in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 87.31% of the company's stock.
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Insiders Place Their Bets
In other Snap-on news, SVP Jesus Arregui sold 488 shares of the company's stock in a transaction on Friday, August 5th. The shares were sold at an average price of $223.31, for a total transaction of $108,975.28. Following the completion of the transaction, the senior vice president now directly owns 2,409 shares in the company, valued at $537,953.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Aldo John Pagliari sold 6,607 shares of the company's stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the completion of the sale, the chief financial officer now owns 73,114 shares of the company's stock, valued at $16,088,004.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 488 shares of the company's stock in a transaction on Friday, August 5th. The stock was sold at an average price of $223.31, for a total transaction of $108,975.28. Following the sale, the senior vice president now directly owns 2,409 shares of the company's stock, valued at approximately $537,953.79. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SNA. MKM Partners began coverage on shares of Snap-on in a report on Thursday, June 9th. They issued a "neutral" rating and a $238.00 price objective on the stock. UBS Group dropped their price objective on shares of Snap-on to $175.00 in a report on Friday, July 22nd.
Snap-on Stock Performance
Shares of SNA traded up $0.49 during trading hours on Friday, hitting $203.25. The stock had a trading volume of 5,015 shares, compared to its average volume of 299,206. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.37 and a current ratio of 3.28. The firm has a 50-day moving average price of $220.00 and a 200 day moving average price of $213.70. Snap-on Incorporated has a fifty-two week low of $190.08 and a fifty-two week high of $235.36. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.86 and a beta of 1.11.
Snap-on (NYSE:SNA – Get Rating) last posted its earnings results on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the previous year, the business posted $3.76 EPS. The business's revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Snap-on Incorporated will post 16.14 EPS for the current year.
Snap-on Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 18th. Snap-on's dividend payout ratio is presently 35.63%.
About Snap-on
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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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