Snap-on Incorporated (NYSE:SNA) Shares Sold by Monument Capital Management

Monument Capital Management trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,656 shares of the company’s stock after selling 374 shares during the quarter. Monument Capital Management’s holdings in Snap-on were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SNA. LPL Financial LLC increased its holdings in shares of Snap-on by 20.7% during the third quarter. LPL Financial LLC now owns 33,821 shares of the company’s stock valued at $8,626,000 after purchasing an additional 5,793 shares during the period. Tower Research Capital LLC TRC increased its stake in Snap-on by 24.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,568 shares of the company’s stock valued at $655,000 after buying an additional 501 shares during the period. Bank of Nova Scotia raised its position in shares of Snap-on by 11.9% during the 3rd quarter. Bank of Nova Scotia now owns 6,850 shares of the company’s stock worth $1,747,000 after buying an additional 730 shares in the last quarter. Teza Capital Management LLC lifted its stake in shares of Snap-on by 10.0% in the 3rd quarter. Teza Capital Management LLC now owns 2,169 shares of the company’s stock worth $553,000 after acquiring an additional 197 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Snap-on by 12.2% in the third quarter. Lazard Asset Management LLC now owns 4,522 shares of the company’s stock valued at $1,152,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares in the company, valued at $66,822.84. The disclosure for this sale can be found here. Insiders sold a total of 38,632 shares of company stock valued at $10,353,409 over the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA traded down $0.94 during mid-day trading on Wednesday, reaching $256.12. The company had a trading volume of 41,366 shares, compared to its average volume of 295,393. The company has a market capitalization of $13.50 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The company’s 50-day moving average is $270.10 and its 200-day moving average is $279.48. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.60 earnings per share. On average, equities analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio is 39.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Wednesday, May 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Finally, Robert W. Baird reduced their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Snap-on currently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.