Snap-on Incorporated (NYSE:SNA) Shares Sold by Boston Private Wealth LLC

Boston Private Wealth LLC reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,823 shares of the company’s stock after selling 331 shares during the quarter. Boston Private Wealth LLC’s holdings in Snap-on were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cardinal Capital Management grew its position in Snap-on by 0.9% during the second quarter. Cardinal Capital Management now owns 7,286 shares of the company’s stock worth $1,207,000 after buying an additional 63 shares during the period. CSat Investment Advisory L.P. grew its position in Snap-on by 34.0% during the second quarter. CSat Investment Advisory L.P. now owns 280 shares of the company’s stock worth $47,000 after buying an additional 71 shares during the period. Raymond James Trust N.A. grew its position in Snap-on by 3.6% during the third quarter. Raymond James Trust N.A. now owns 2,382 shares of the company’s stock worth $373,000 after buying an additional 83 shares during the period. Albert D Mason Inc. grew its position in Snap-on by 0.9% during the third quarter. Albert D Mason Inc. now owns 10,390 shares of the company’s stock worth $1,626,000 after buying an additional 90 shares during the period. Finally, D.B. Root & Company LLC grew its position in Snap-on by 3.0% during the second quarter. D.B. Root & Company LLC now owns 3,450 shares of the company’s stock worth $571,000 after buying an additional 100 shares during the period.

Shares of NYSE SNA opened at $166.94 on Friday. Snap-on Incorporated has a 12-month low of $135.29 and a 12-month high of $174.00. The company has a market capitalization of $9.22 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.61. The firm’s 50-day moving average is $159.44 and its two-hundred day moving average is $158.51.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The company had revenue of $901.80 million for the quarter, compared to the consensus estimate of $909.23 million. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts forecast that Snap-on Incorporated will post 12.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.08 per share. This is an increase from Snap-on’s previous quarterly dividend of $0.95. This represents a $4.32 annualized dividend and a dividend yield of 2.59%. Snap-on’s dividend payout ratio is presently 32.18%.

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Several analysts have issued reports on SNA shares. Barrington Research reaffirmed a “buy” rating and issued a $185.00 price target on shares of Snap-on in a report on Thursday, October 17th. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price target on the stock. in a report on Tuesday, July 16th. ValuEngine downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Oppenheimer set a $180.00 price target on shares of Snap-on and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $173.60.

In related news, VP Iain Boyd sold 777 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $165.00, for a total transaction of $128,205.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 19,675 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The disclosure for this sale can be found here. Corporate 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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

Further Reading: The four types of profit margin

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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