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Kensington Investment Counsel LLC Sells 100 Shares of Snap-on Incorporated (NYSE:SNA)

Financial News Live · Sep 24, 2022 12:41

Kensington Investment Counsel LLC lessened its holdings in Snap-on Incorporated (NYSE:SNA – Get Rating) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,699 shares of the company's stock after selling 100 shares during the quarter. Snap-on accounts for approximately 2.0% of Kensington Investment Counsel LLC's investment portfolio, making the stock its 9th biggest position. Kensington Investment Counsel LLC's holdings in Snap-on were worth $2,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Parkside Financial Bank & Trust raised its holdings in 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Snap-on by 2.6% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,962 shares of the company's stock worth $403,000 after purchasing an additional 49 shares during the period. Checchi Capital Advisers LLC grew its stake in Snap-on by 4.6% during the first quarter. Checchi Capital Advisers LLC now owns 1,154 shares of the company's stock worth $237,000 after buying an additional 51 shares in the last quarter. Captrust Financial Advisors increased its holdings in Snap-on by 1.3% in the 1st quarter. Captrust Financial Advisors now owns 4,511 shares of the company's stock valued at $927,000 after buying an additional 56 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position in shares of Snap-on by 2.8% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,150 shares of the company's stock valued at $442,000 after buying an additional 58 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

SNA has been the topic of a number of recent analyst reports. UBS Group decreased their price objective on shares of Snap-on to $175.00 in a research note on Friday, July 22nd. MKM Partners initiated coverage on Snap-on in a report on Thursday, June 9th. They set a "neutral" rating and a $238.00 price target for the company.

Snap-on Price Performance

SNA stock traded down $4.47 during trading on Friday, reaching $206.45. 323,538 shares of the company were exchanged, compared to its average volume of 293,600. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.67 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. The company has a 50-day moving average of $220.12 and a two-hundred day moving average of $213.72. Snap-on Incorporated has a twelve month low of $190.08 and a twelve month high of $235.36.

Snap-on (NYSE:SNA – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $3.76 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Snap-on Incorporated will post 16.14 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, August 18th. Snap-on's payout ratio is 35.63%.

Insider Transactions at Snap-on

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

Snap-on Company Profile

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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.