Snap-on Incorporated (NYSE:SNA) Shares Sold by West Coast Financial LLC

West Coast Financial LLC decreased its stake in Snap-on Incorporated (NYSE:SNA) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,934 shares of the company’s stock after selling 384 shares during the period. Snap-on makes up 1.4% of West Coast Financial LLC’s investment portfolio, making the stock its 14th largest holding. West Coast Financial LLC owned 0.07% of Snap-on worth $12,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Caprock Group LLC raised its position in Snap-on by 40.9% during the fourth quarter. Caprock Group LLC now owns 1,381 shares of the company’s stock worth $469,000 after acquiring an additional 401 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Snap-on by 4.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,393 shares of the company’s stock worth $473,000 after buying an additional 60 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after buying an additional 30 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Snap-on by 10.0% during the fourth quarter. CENTRAL TRUST Co now owns 651 shares of the company’s stock worth $221,000 after buying an additional 59 shares in the last quarter. Finally, Optas LLC purchased a new stake in shares of Snap-on during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent analyst reports. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Robert W. Baird cut their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.83.

Snap-on Trading Down 0.2%

NYSE SNA opened at $320.32 on Thursday. The company’s fifty day simple moving average is $320.13 and its 200-day simple moving average is $336.42. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.75 billion, a P/E ratio of 16.43, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company earned $4.91 earnings per share. Equities research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.67%. Snap-on’s dividend payout ratio is presently 44.82%.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the transaction, the chief executive officer now owns 804,510 shares of the company’s stock, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,425 shares of company stock worth $16,745,583 over the last 90 days. Insiders own 3.90% of the company’s stock.

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.