CapWealth Advisors LLC Sells 86 Shares of Snap-on Incorporated (NYSE:SNA)

CapWealth Advisors LLC reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,527 shares of the company’s stock after selling 86 shares during the quarter. Snap-on comprises 1.5% of CapWealth Advisors LLC’s holdings, making the stock its 29th biggest position. CapWealth Advisors LLC’s holdings in Snap-on were worth $11,639,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in Snap-on by 9.0% in the fourth quarter. National Bank of Canada FI now owns 19,116 shares of the company’s stock valued at $5,518,000 after acquiring an additional 1,573 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Snap-on by 1.2% in the 4th quarter. Private Advisor Group LLC now owns 9,768 shares of the company’s stock worth $2,821,000 after purchasing an additional 118 shares during the last quarter. Lincoln National Corp grew its stake in shares of Snap-on by 50.7% during the fourth quarter. Lincoln National Corp now owns 2,354 shares of the company’s stock worth $680,000 after purchasing an additional 792 shares during the period. Ethos Financial Group LLC bought a new stake in Snap-on in the fourth quarter valued at about $324,000. Finally, Principal Securities Inc. bought a new position in Snap-on during the fourth quarter worth about $1,457,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of several analyst reports. Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird reduced their price target 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, Barrington Research reissued an “outperform” rating and set a $325.00 price target 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Insider Transactions at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 over the last three months. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $272.09 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The company has a market capitalization of $14.33 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company’s 50 day moving average price is $272.97 and its two-hundred day moving average price is $276.23. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $4.89 earnings per share. On average, analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.86 dividend. The ex-dividend date is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.73%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on declared that its Board of Directors has authorized a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.