Ballentine Partners LLC Lowers Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Ballentine Partners LLC trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA – Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,236 shares of the company’s stock after selling 39 shares during the period. Ballentine Partners LLC’s holdings in Snap-On were worth $417,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SNA. Alpine Bank Wealth Management purchased a new position in shares of Snap-On during the first quarter valued at approximately $25,000. Golden State Wealth Management LLC lifted its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Snap-On during the first quarter valued at approximately $35,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-On during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Snap-On by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Karen L. Daniel sold 1,090 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director owned 8,030 shares of the company’s stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,815 shares of company stock valued at $9,482,532. Company insiders own 3.90% of the company’s stock.

Snap-On Trading Down 1.8%

NYSE:SNA opened at $313.32 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $266.55 and a 12 month high of $373.90. The company has a market cap of $16.38 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.76. The company has a 50 day simple moving average of $318.08 and a two-hundred day simple moving average of $327.95.

Snap-On (NYSE:SNA – Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted $4.91 EPS. Research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 44.82%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Monday, March 31st. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Robert W. Baird decreased their price objective on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $350.83.

View Our Latest Analysis on Snap-On

Snap-On Profile

(Free Report)

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.