Inspire Investing LLC Sells 70 Shares of Snap-on Incorporated (NYSE:SNA)

Inspire Investing LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,315 shares of the company’s stock after selling 70 shares during the quarter. Inspire Investing LLC’s holdings in Snap-on were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Renasant Bank increased its stake in shares of Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after purchasing an additional 36 shares during the period. Phillips Wealth Planners LLC increased its stake in shares of Snap-on by 3.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock valued at $286,000 after buying an additional 37 shares in the last quarter. TFB Advisors LLC raised its stake in shares of Snap-on by 3.2% in the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the last quarter. Financial Advocates Investment Management raised its position in Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after acquiring an additional 39 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. Robert W. Baird reduced their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th.

Snap-on Stock Up 1.9 %

SNA opened at $291.81 on Monday. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The stock has a market cap of $15.37 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98. The stock’s fifty day simple moving average is $280.49 and its 200 day simple moving average is $276.06. 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 (NYSE:SNA) last posted its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned $4.89 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 2.55%. Snap-on’s dividend payout ratio is presently 38.67%.

Snap-on announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 in the last three months. Corporate insiders own 4.10% 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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.