AustralianSuper Pty Ltd Sells 1,369 Shares of Snap-On Incorporated $SNA

AustralianSuper Pty Ltd lowered its stake in shares of Snap-On Incorporated (NYSE:SNA) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,511 shares of the company’s stock after selling 1,369 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Snap-On were worth $7,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Forvis Mazars Wealth Advisors LLC lifted its position in shares of Snap-On by 0.7% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company’s stock valued at $1,553,000 after buying an additional 32 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company’s stock worth $261,000 after acquiring an additional 32 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Snap-On by 5.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $234,000 after acquiring an additional 34 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Snap-On by 28.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $49,000 after acquiring an additional 35 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its holdings in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company’s stock worth $241,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Trading Up 0.7%

Shares of NYSE:SNA opened at $346.21 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.38 and a beta of 0.78. The business has a 50-day moving average price of $335.00 and a 200-day moving average price of $324.82.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $4.70 earnings per share. Snap-On’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is presently 44.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Wednesday, October 15th. Tigress Financial increased their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Roth Capital reissued a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Robert W. Baird upped their price objective 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, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On 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 transaction, 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 filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by corporate insiders.

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.