Standard Family Office LLC Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Standard Family Office LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 31.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441 shares of the company’s stock after selling 200 shares during the quarter. Standard Family Office LLC’s holdings in Snap-on were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SNA. Ironwood Wealth Management LLC. purchased a new stake in Snap-on in the fourth quarter worth approximately $254,000. Comerica Bank boosted its stake in Snap-on by 6.5% in the fourth quarter. Comerica Bank now owns 20,607 shares of the company’s stock worth $3,668,000 after buying an additional 1,265 shares in the last quarter. M&G Investment Management Ltd. purchased a new stake in Snap-on in the fourth quarter worth approximately $324,000. California Public Employees Retirement System boosted its stake in Snap-on by 4.8% in the fourth quarter. California Public Employees Retirement System now owns 131,378 shares of the company’s stock worth $22,484,000 after buying an additional 6,010 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Snap-on by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 20,614 shares of the company’s stock worth $3,528,000 after buying an additional 60 shares in the last quarter. 86.77% of the stock is owned by institutional investors and hedge funds.

Shares of SNA stock opened at $240.58 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.01 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a 50 day moving average of $244.27. Snap-on Incorporated has a fifty-two week low of $128.10 and a fifty-two week high of $259.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 22nd. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.49. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $929.86 million. Snap-on had a return on equity of 18.44% and a net margin of 18.13%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 13.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 28th were issued a dividend of $1.23 per share. The ex-dividend date was Thursday, May 20th. This represents a $4.92 dividend on an annualized basis and a dividend yield of 2.05%. Snap-on’s dividend payout ratio is presently 42.30%.

Several brokerages have issued reports on SNA. Robert W. Baird reaffirmed a “hold” rating and issued a $239.00 target price on shares of Snap-on in a research note on Sunday, April 25th. Barrington Research boosted their price objective on Snap-on from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Snap-on has a consensus rating of “Hold” and an average target price of $187.83.

In other Snap-on news, VP Richard K. Strege sold 3,176 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $229.62, for a total value of $729,273.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Iain Boyd sold 10,000 shares of the stock in a transaction on Friday, May 7th. The stock was sold at an average price of $249.04, for a total value of $2,490,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,020 shares of company stock valued at $16,071,346. 4.20% of the stock is owned by corporate 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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

Read More: Balance Sheet

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

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