Snap-On Incorporated $SNA Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA decreased its position in shares of Snap-On Incorporated (NYSE:SNA) by 8.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,721 shares of the company’s stock after selling 330 shares during the quarter. Delphi Management Inc. MA’s holdings in Snap-On were worth $1,158,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock valued at $647,593,000 after purchasing an additional 115,306 shares in the last quarter. Auto Owners Insurance Co raised its stake in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after purchasing an additional 1,070,025 shares in the last quarter. Northern Trust Corp raised its stake in shares of Snap-On by 5.4% during the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock valued at $283,668,000 after purchasing an additional 43,467 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Snap-On by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company’s stock valued at $261,023,000 after purchasing an additional 15,097 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Snap-On by 65,113.6% during the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock valued at $236,919,000 after purchasing an additional 701,925 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Price Performance

Shares of Snap-On stock opened at $333.70 on Friday. 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’s 50-day moving average price is $324.94 and its two-hundred day moving average price is $322.84. Snap-On Incorporated has a 52 week low of $278.75 and a 52 week high of $373.89. The stock has a market cap of $17.41 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.07 earnings per share. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On’s payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Tigress Financial boosted their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Bank of America boosted their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.00.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company’s stock.

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.