Vontobel Holding Ltd. Sells 3,634 Shares of Snap-On Incorporated $SNA

Vontobel Holding Ltd. trimmed its position in Snap-On Incorporated (NYSE:SNA) by 26.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,002 shares of the company’s stock after selling 3,634 shares during the quarter. Vontobel Holding Ltd.’s holdings in Snap-On were worth $3,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On in the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC raised its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares during the period. Finally, Ransom Advisory Ltd bought a new stake in shares of Snap-On in the 1st quarter valued at about $34,000. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Snap-On Stock Down 1.4%

Shares of SNA opened at $327.21 on Friday. Snap-On Incorporated has a 12 month low of $287.44 and a 12 month high of $373.89. The firm’s 50 day moving average is $331.20 and its 200-day moving average is $323.79. The stock has a market capitalization of $17.07 billion, a PE ratio of 17.45, a P/E/G ratio of 2.31 and a beta of 0.78. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $5.07 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 45.65%.

Analyst Upgrades and Downgrades

SNA has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a report on Tuesday, September 23rd. Tigress Financial increased their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

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.