Benjamin Edwards Inc. Sells 158 Shares of Snap-on Incorporated (NYSE:SNA)

Benjamin Edwards Inc. reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,664 shares of the company’s stock after selling 158 shares during the period. Benjamin Edwards Inc.’s holdings in Snap-on were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its holdings in Snap-on by 9.9% during the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after purchasing an additional 83,686 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after purchasing an additional 27,429 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Snap-on by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Snap-on by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after purchasing an additional 16,972 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Snap-on by 0.5% during the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Robert W. Baird reduced their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Price Performance

Shares of SNA stock opened at $286.17 on Friday. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm’s 50 day moving average is $276.96 and its 200-day moving average is $276.69. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.95 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 (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $4.89 earnings per share. Snap-on’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.60%. Snap-on’s dividend payout ratio is currently 39.03%.

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

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction 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 directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock worth $8,077,390 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Snap-on 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.