Legacy Financial Advisors Inc. Cuts Stock Position in Snap-on Incorporated (NYSE:SNA)

Legacy Financial Advisors Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,563 shares of the company’s stock after selling 59 shares during the period. Legacy Financial Advisors Inc.’s holdings in Snap-on were worth $1,896,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Royal London Asset Management Ltd. raised its stake in shares of Snap-on by 12.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after acquiring an additional 2,542 shares during the period. Caprock Group LLC acquired a new stake in Snap-on during the 4th quarter valued at $1,203,000. Cerity Partners LLC grew its holdings in Snap-on by 275.7% during the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock valued at $2,292,000 after purchasing an additional 5,825 shares in the last quarter. Vision Capital Management Inc. acquired a new stake in Snap-on during the 4th quarter valued at $2,377,000. Finally, Raymond James & Associates grew its holdings in Snap-on by 3.9% during the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock valued at $102,584,000 after purchasing an additional 13,225 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA traded up $4.16 during mid-day trading on Friday, hitting $271.03. The stock had a trading volume of 262,537 shares, compared to its average volume of 341,144. The company has a market cap of $14.29 billion, a PE ratio of 14.22, a PEG ratio of 1.87 and a beta of 1.00. The company’s fifty day simple moving average is $284.25 and its two-hundred day simple moving average is $279.28. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last issued 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 during the quarter, compared to analyst estimates 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 was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 EPS. On average, equities analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.75%. Snap-on’s dividend payout ratio is currently 39.03%.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the transaction, the senior vice president now owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the transaction, the senior vice president now directly owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The disclosure for this sale can be found here. Insiders have sold 49,930 shares of company stock valued at $14,089,523 over the last quarter. Insiders own 4.10% of the company’s stock.

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.