2,146 Snap-On Incorporated $SNA Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its holdings in Snap-On Incorporated (NYSE:SNA) by 30.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,792 shares of the company’s stock after selling 2,146 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Snap-On were worth $1,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Snap-On in the second quarter valued at $1,715,363,000. State Street Corp increased its position in shares of Snap-On by 2.9% in the second quarter. State Street Corp now owns 2,356,671 shares of the company’s stock valued at $948,324,000 after buying an additional 66,754 shares in the last quarter. First Trust Advisors LP grew its stake in Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares during the period. Bank of America Corp DE increased its holdings in Snap-On by 0.4% in the 1st quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock worth $363,037,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Snap-On by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock worth $319,955,000 after acquiring an additional 17,337 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snap-On news, VP Marty V. Ozolins sold 800 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the completion of the sale, the vice president directly owned 1,526 shares in the company, valued at $610,400. This represents a 34.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This trade represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Robert W. Baird set a $385.00 target price on shares of Snap-On in a research note on Friday, October 23rd. Tigress Financial raised their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Roth Capital reiterated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Weiss Ratings downgraded Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Finally, Barclays lowered their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $434.00.

Snap-On Stock Performance

NYSE:SNA opened at $374.74 on Thursday. The company’s 50-day moving average price is $368.00 and its 200-day moving average price is $380.30. The company has a current ratio of 3.55, a quick ratio of 2.71 and a debt-to-equity ratio of 0.14. The company has a market cap of $19.33 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.66 and a beta of 0.75. Snap-On Incorporated has a twelve month low of $320.80 and a twelve month high of $423.02.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted $4.71 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.24 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.44. The ex-dividend date is Friday, November 20th. Snap-On’s dividend payout ratio (DPR) is currently 50.75%.

Snap-On Profile

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.