Net Worth Advisory Group Sells 38 Shares of Snap-on Incorporated (NYSE:SNA)

Net Worth Advisory Group reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,948 shares of the company’s stock after selling 38 shares during the quarter. Net Worth Advisory Group’s holdings in Snap-on were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC acquired a new position in Snap-on in the first quarter valued at approximately $359,000. Redhawk Wealth Advisors Inc. grew its stake in shares of Snap-on by 19.4% during the first quarter. Redhawk Wealth Advisors Inc. now owns 3,102 shares of the company’s stock worth $1,045,000 after purchasing an additional 505 shares during the period. CX Institutional bought a new stake in Snap-on in the first quarter valued at about $113,000. Assenagon Asset Management S.A. lifted its stake in Snap-on by 4.5% in the first quarter. Assenagon Asset Management S.A. now owns 7,441 shares of the company’s stock valued at $2,508,000 after buying an additional 320 shares during the period. Finally, Trueblood Wealth Management LLC boosted its holdings in Snap-on by 11.4% during the first quarter. Trueblood Wealth Management LLC now owns 4,085 shares of the company’s stock worth $1,377,000 after buying an additional 418 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In other Snap-on news, Director Karen L. Daniel sold 1,090 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director now directly owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,515 shares of company stock valued at $17,094,296. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNA. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research note on Monday, March 31st. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Robert W. Baird reduced their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Finally, Tigress Financial increased their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-on Price Performance

NYSE SNA opened at $320.24 on Thursday. The firm’s 50 day moving average is $318.98 and its 200-day moving average is $335.08. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $16.75 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

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

Snap-on Dividend Announcement

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

About Snap-on

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.