Snap-on Incorporated (NYSE:SNA) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC decreased its position in Snap-on Incorporated (NYSE:SNA) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,445 shares of the company’s stock after selling 280 shares during the period. Symmetry Partners LLC’s holdings in Snap-on were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SNA. Confluence Investment Management LLC acquired a new position in shares of Snap-on during the first quarter valued at approximately $173,451,000. Norges Bank acquired a new position in Snap-on in the 4th quarter worth approximately $145,665,000. Mawer Investment Management Ltd. purchased a new position in Snap-on during the 1st quarter valued at about $55,954,000. Benjamin F. Edwards & Company Inc. grew its stake in Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after acquiring an additional 137,920 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Snap-on by 9.9% in the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after purchasing an additional 83,686 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 0.2 %

Shares of SNA traded down $0.56 during trading hours on Friday, hitting $273.13. 75,288 shares of the company were exchanged, compared to its average volume of 299,191. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The company has a market cap of $14.39 billion, a PE ratio of 14.34, a PEG ratio of 1.89 and a beta of 0.98. The firm’s 50 day moving average is $268.62 and its 200-day moving average is $276.80. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $4.89 EPS. On average, equities research analysts forecast that Snap-on Incorporated will post 18.97 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.72%. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Snap-on declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird dropped their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 8,434 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the sale, the senior vice president now directly owns 252 shares in the company, valued at $66,822.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,632 shares of company stock valued at $10,353,409 over the last quarter. 4.10% of the stock is owned by company insiders.

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.