Riverbridge Partners LLC Has $2.04 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Riverbridge Partners LLC cut its stake in Snap-on Incorporated (NYSE:SNA) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,733 shares of the company’s stock after selling 79 shares during the period. Riverbridge Partners LLC’s holdings in Snap-on were worth $2,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SNA. Prudential Financial Inc. raised its holdings in shares of Snap-on by 2.7% in the 4th quarter. Prudential Financial Inc. now owns 56,683 shares of the company’s stock worth $9,602,000 after buying an additional 1,500 shares in the last quarter. Atria Investments LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $441,000. Pictet Asset Management Ltd. raised its holdings in shares of Snap-on by 0.5% in the 4th quarter. Pictet Asset Management Ltd. now owns 121,266 shares of the company’s stock worth $20,542,000 after buying an additional 599 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Snap-on by 9.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 26,206 shares of the company’s stock worth $4,439,000 after buying an additional 2,306 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Snap-on by 18.2% during the 4th quarter. ProShare Advisors LLC now owns 11,818 shares of the company’s stock worth $2,002,000 after acquiring an additional 1,816 shares during the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

Shares of SNA opened at $132.84 on Thursday. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.49 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.50. The business’s fifty day moving average price is $136.51 and its two-hundred day moving average price is $139.77. Snap-on Incorporated has a 52 week low of $90.72 and a 52 week high of $172.61.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $2.60 EPS for the quarter, missing the Zacks’ consensus estimate of $2.75 by ($0.15). The firm had revenue of $852.20 million during the quarter, compared to the consensus estimate of $877.72 million. Snap-on had a net margin of 17.83% and a return on equity of 19.64%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.01 earnings per share. As a group, research analysts forecast that Snap-on Incorporated will post 9.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Thursday, May 21st were given a $1.08 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.32 dividend on an annualized basis and a yield of 3.25%. Snap-on’s payout ratio is 35.24%.

A number of research firms recently commented on SNA. Barrington Research restated an “outperform” rating on shares of Snap-on in a research report on Thursday, April 23rd. ValuEngine upgraded Snap-on from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Longbow Research restated a “hold” rating on shares of Snap-on in a research report on Wednesday, March 25th. TheStreet upgraded Snap-on from a “c” rating to a “b-” rating in a research report on Monday, June 22nd. Finally, Tigress Financial restated a “buy” rating on shares of Snap-on in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Snap-on has an average rating of “Hold” and an average price target of $172.50.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 28,628 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $135.05, for a total value of $3,866,211.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by company insiders.

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.

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

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