Wealthfront Advisers LLC Has $5.92 Million Holdings in Snap-On Incorporated $SNA

Wealthfront Advisers LLC cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,017 shares of the company’s stock after selling 803 shares during the period. Wealthfront Advisers LLC’s holdings in Snap-On were worth $5,918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in shares of Snap-On during the 2nd quarter worth about $30,000. Golden State Wealth Management LLC raised its position in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Ransom Advisory Ltd acquired a new stake in Snap-On during the first quarter valued at approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Bank of America lifted their price objective on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Roth Capital reaffirmed a “buy” rating and issued a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Robert W. Baird lifted their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, Tigress Financial boosted their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $365.00.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the transaction, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Price Performance

SNA opened at $342.93 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a market capitalization of $17.84 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. The company’s 50 day simple moving average is $335.37 and its 200-day simple moving average is $324.96. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.70 EPS. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal 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 issued a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 44.89%.

Snap-On 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.