Empowered Funds LLC Sells 593 Shares of Snap-on Incorporated (NYSE:SNA)

Empowered Funds LLC decreased its holdings in Snap-on Incorporated (NYSE:SNAGet Rating) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,423 shares of the company’s stock after selling 593 shares during the period. Empowered Funds LLC’s holdings in Snap-on were worth $4,402,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Stanley Laman Group Ltd. lifted its position in shares of Snap-on by 8.4% in the first quarter. Stanley Laman Group Ltd. now owns 16,947 shares of the company’s stock worth $3,482,000 after buying an additional 1,312 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Snap-on by 86.3% in the first quarter. Miller Howard Investments Inc. NY now owns 296,853 shares of the company’s stock worth $60,997,000 after buying an additional 137,474 shares in the last quarter. First Heartland Consultants Inc. purchased a new stake in shares of Snap-on in the first quarter worth about $262,000. Cardinal Capital Management lifted its position in shares of Snap-on by 4.1% in the first quarter. Cardinal Capital Management now owns 8,531 shares of the company’s stock worth $1,753,000 after buying an additional 335 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Snap-on by 0.8% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 36,136 shares of the company’s stock worth $7,425,000 after buying an additional 280 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Shares of SNA stock opened at $198.24 on Friday. Snap-on Incorporated has a 1 year low of $190.08 and a 1 year high of $235.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.16 and a quick ratio of 2.32. The stock’s 50 day simple moving average is $212.46 and its two-hundred day simple moving average is $211.99. The company has a market cap of $10.58 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Snap-on (NYSE:SNAGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.32. Snap-on had a return on equity of 20.34% and a net margin of 19.54%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts expect that Snap-on Incorporated will post 15.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 20th were issued a $1.42 dividend. The ex-dividend date was Thursday, May 19th. This represents a $5.68 annualized dividend and a dividend yield of 2.87%. Snap-on’s payout ratio is 36.81%.

In other news, CEO Nicholas T. Pinchuk sold 19,394 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $216.58, for a total value of $4,200,352.52. Following the sale, the chief executive officer now directly owns 622,123 shares in the company, valued at $134,739,399.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

A number of research firms recently commented on SNA. Tigress Financial boosted their target price on Snap-on from $295.00 to $298.00 and gave the stock a “buy” rating in a research report on Monday, April 25th. MKM Partners began coverage on Snap-on in a research report on Thursday, June 9th. They set a “neutral” rating and a $238.00 price objective on the stock. Finally, StockNews.com began coverage on Snap-on in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on has an average rating of “Hold” and a consensus target price of $254.50.

Snap-on Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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