Legacy Financial Advisors Inc. Sells 37 Shares of Snap-On Incorporated $SNA

Legacy Financial Advisors Inc. trimmed its position in Snap-On Incorporated (NYSE:SNA) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,858 shares of the company’s stock after selling 37 shares during the period. Legacy Financial Advisors Inc.’s holdings in Snap-On were worth $1,974,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SNA. Alpine Bank Wealth Management bought a new stake in Snap-On during the first quarter worth about $25,000. Golden State Wealth Management LLC raised its holdings in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings 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 acquiring an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On during the first quarter worth about $35,000. Finally, ORG Partners LLC raised its holdings in Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company’s stock worth $54,000 after acquiring an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNA. Robert W. Baird boosted their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $356.17.

Insider Activity

In related news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director owned 8,030 shares of the company’s stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,160 shares of company stock valued at $16,650,792. 3.90% of the stock is owned by insiders.

Snap-On Price Performance

Snap-On stock opened at $323.17 on Tuesday. Snap-On Incorporated has a 12 month low of $268.90 and a 12 month high of $373.89. The stock’s 50 day moving average is $319.63 and its 200-day moving average is $324.67. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.27 and a beta of 0.76.

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

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio is presently 45.65%.

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.