Snap-On Incorporated $SNA Shares Sold by Empirical Finance LLC

Empirical Finance LLC cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 27.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,820 shares of the company’s stock after selling 1,417 shares during the period. Empirical Finance LLC’s holdings in Snap-On were worth $1,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. DV Equities LLC acquired a new position in shares of Snap-On during the fourth quarter worth about $25,000. Western Wealth Management LLC acquired a new position in shares of Snap-On in the first quarter worth about $29,000. Quattro Advisors LLC purchased a new position in Snap-On in the fourth quarter valued at about $35,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Snap-On by 152.4% during the 4th quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In other news, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the transaction, the senior vice president directly owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the completion of the sale, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. This represents a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 40,720 shares of company stock valued at $16,500,198. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNA. Barclays started coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday, July 24th. Roth Capital reissued a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.20.

Snap-On Price Performance

Shares of NYSE SNA opened at $378.04 on Thursday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72. Snap-On Incorporated has a twelve month low of $320.80 and a twelve month high of $423.02. The business has a 50 day simple moving average of $401.85 and a 200-day simple moving average of $385.40.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned $4.72 EPS. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Snap-On Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics and repair information. Its products include hand and power tools, tool storage, vehicle diagnostic systems, shop equipment, repair software and related services. The company serves professional technicians and customers in the automotive repair, commercial transportation, industrial, aviation, military, agriculture and other technical markets.

Snap-on sells products under the Snap-on brand and other brands, including Blue-Point, through a broad distribution network.