Prosperity Consulting Group LLC Sells 770 Shares of Snap-On Incorporated $SNA

Prosperity Consulting Group LLC cut its stake in shares of Snap-On Incorporated (NYSE:SNA) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,252 shares of the company’s stock after selling 770 shares during the period. Prosperity Consulting Group LLC’s holdings in Snap-On were worth $4,124,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SNA. Kingstone Capital Partners Texas LLC bought a new position in Snap-On during the 2nd quarter valued at $434,938,000. Auto Owners Insurance Co lifted its stake in Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Snap-On by 54.3% during the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock valued at $229,793,000 after acquiring an additional 239,908 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Snap-On during the 2nd quarter valued at $56,595,000. Finally, Nuveen LLC bought a new position in Snap-On during the 1st quarter valued at $45,711,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Tigress Financial boosted their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On Stock Up 0.5%

Shares of NYSE SNA opened at $337.31 on Tuesday. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.33 and a beta of 0.78. The business has a 50-day moving average of $336.23 and a 200-day moving average of $325.15.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $4.70 earnings per share. Snap-On’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is currently 44.89%.

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.