Snap-On Incorporated $SNA Shares Sold by Sienna Gestion

Sienna Gestion trimmed its stake in shares of Snap-On Incorporated (NYSE:SNA) by 92.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,631 shares of the company’s stock after selling 30,827 shares during the period. Sienna Gestion’s holdings in Snap-On were worth $831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tobam acquired a new stake in Snap-On during the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after buying an additional 94 shares during the period. Quent Capital LLC purchased a new position in shares of Snap-On in the third quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Snap-On in the second quarter worth approximately $37,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Down 2.6%

Shares of NYSE SNA opened at $372.16 on Monday. The business has a 50 day simple moving average of $370.77 and a 200 day simple moving average of $350.03. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.57 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.82 earnings per share. On average, research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Analyst Ratings Changes

Several brokerages recently commented on SNA. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm reissued a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of Snap-On stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. The trade was a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares of the company’s stock, valued at $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,429 shares of company stock worth $17,598,523 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.