Snap-on Incorporated (NYSE:SNA) Position Reduced by O Shares Investment Advisers LLC

O Shares Investment Advisers LLC lessened its stake in Snap-on Incorporated (NYSE:SNA) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,994 shares of the company’s stock after selling 134 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Snap-on were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. CSat Investment Advisory L.P. grew its stake in Snap-on by 81.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after acquiring an additional 92 shares during the period. Signaturefd LLC grew its stake in Snap-on by 326.7% in the first quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after acquiring an additional 147 shares during the period. Riverview Trust Co acquired a new position in Snap-on in the fourth quarter valued at about $33,000. FTB Advisors Inc. grew its stake in Snap-on by 120.5% in the first quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock valued at $56,000 after acquiring an additional 200 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in Snap-on in the first quarter valued at about $56,000.

NYSE:SNA opened at $164.14 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.42 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 1.56 and a beta of 1.26. Snap-on Incorporated has a 1 year low of $135.29 and a 1 year high of $189.46.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.10. The company had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. Snap-on’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 earnings per share. As a group, equities research analysts anticipate that Snap-on Incorporated will post 12.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $3.80 annualized dividend and a dividend yield of 2.32%. Snap-on’s dividend payout ratio is currently 32.18%.

A number of research firms have issued reports on SNA. Zacks Investment Research raised Snap-on from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Barrington Research set a $185.00 target price on Snap-on and gave the company a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $186.00 to $160.00 in a research note on Wednesday, April 10th. Bank of America cut Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 target price for the company. in a research note on Tuesday, April 16th. Finally, Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research note on Friday, May 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Snap-on currently has an average rating of “Hold” and an average price target of $185.20.

In other news, Chairman Nicholas T. Pinchuk sold 11,783 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $156.68, for a total transaction of $1,846,160.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas J. Ward sold 21,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $169.75, for a total value of $3,564,750.00. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

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About Snap-on

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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