Snap-on Incorporated (NYSE:SNA) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC trimmed its position in Snap-on Incorporated (NYSE:SNA) by 11.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,784 shares of the company’s stock after selling 891 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Snap-on were worth $1,773,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in Snap-on in the fourth quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on in the second quarter worth about $30,000. Innealta Capital LLC acquired a new position in Snap-on in the second quarter worth about $32,000. Fidelis Capital Partners LLC acquired a new position in Snap-on in the first quarter valued at approximately $56,000. Finally, Versant Capital Management Inc boosted its stake in Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird decreased their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

SNA opened at $280.08 on Wednesday. The business’s 50 day moving average is $276.21 and its 200-day moving average is $276.60. The stock has a market cap of $14.77 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.89 earnings per share. On average, analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.66%. Snap-on’s payout ratio is 39.03%.

Snap-on declared that its board has initiated a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.