Inspire Advisors LLC Trims Stock Position in Snap-On Incorporated $SNA

Inspire Advisors LLC trimmed its holdings in Snap-On Incorporated (NYSE:SNA) by 15.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,502 shares of the company’s stock after selling 462 shares during the period. Inspire Advisors LLC’s holdings in Snap-On were worth $778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tobam acquired a new stake in shares of Snap-On in the second quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Snap-On during the second quarter worth approximately $30,000. Ransom Advisory Ltd acquired a new position in shares of Snap-On in the 1st quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after buying an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. purchased a new stake in shares of Snap-On during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $330.16 on Wednesday. The firm has a market capitalization of $17.17 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The stock’s 50 day moving average price is $338.81 and its 200 day moving average price is $327.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

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, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $4.70 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $2.44 per share. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 3.0%. Snap-On’s payout ratio is presently 51.18%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Tigress Financial lifted their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

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.