Intrua Financial LLC Cuts Stock Holdings in Snap-On Incorporated $SNA

Intrua Financial LLC decreased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,288 shares of the company’s stock after selling 363 shares during the period. Intrua Financial LLC’s holdings in Snap-On were worth $771,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Jacobi Capital Management LLC boosted its position in shares of Snap-On by 12.7% during the first quarter. Jacobi Capital Management LLC now owns 692 shares of the company’s stock valued at $233,000 after buying an additional 78 shares during the last quarter. Advisors Capital Management LLC grew its position in Snap-On by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock worth $418,000 after purchasing an additional 63 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Snap-On by 10.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 412 shares of the company’s stock worth $139,000 after purchasing an additional 39 shares in the last quarter. Belpointe Asset Management LLC grew its position in Snap-On by 42.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,470 shares of the company’s stock worth $496,000 after purchasing an additional 436 shares in the last quarter. Finally, Focus Partners Wealth grew its position in Snap-On by 2.8% in the 1st quarter. Focus Partners Wealth now owns 18,624 shares of the company’s stock worth $6,277,000 after purchasing an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Stock Performance

Shares of SNA stock opened at $331.88 on Friday. The stock has a market capitalization of $17.31 billion, a P/E ratio of 17.70, a PEG ratio of 2.26 and a beta of 0.77. 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 firm’s 50 day moving average is $324.69 and its 200 day moving average is $323.01. Snap-On Incorporated has a 12 month low of $273.08 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. The company 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 was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.07 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNA shares. Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Tigress Financial upped their price objective 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. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Finally, Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.00.

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.