Community Bank N.A. Decreases Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Community Bank N.A. lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 50.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150 shares of the company’s stock after selling 150 shares during the period. Community Bank N.A.’s holdings in Snap-On were worth $51,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State of Alaska Department of Revenue raised its position in Snap-On by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 12,141 shares of the company’s stock valued at $4,091,000 after purchasing an additional 150 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Snap-On by 25.0% in the first quarter. CWA Asset Management Group LLC now owns 6,601 shares of the company’s stock valued at $2,225,000 after buying an additional 1,320 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Snap-On by 1.8% in the first quarter. Cardinal Capital Management now owns 11,041 shares of the company’s stock valued at $3,721,000 after buying an additional 191 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Snap-On by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 107,115 shares of the company’s stock valued at $36,099,000 after buying an additional 729 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its position in Snap-On by 10.5% during the 1st quarter. Sagespring Wealth Partners LLC now owns 1,194 shares of the company’s stock worth $402,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Trading Down 0.2%

SNA opened at $306.76 on Thursday. Snap-On Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The stock has a market capitalization of $16.04 billion, a PE ratio of 16.06, a P/E/G ratio of 2.19 and a beta of 0.78. The firm’s fifty day moving average price is $318.30 and its 200 day moving average price is $333.04.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the previous year, the firm posted $4.91 EPS. As a group, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.79%. The ex-dividend date was Tuesday, May 20th. Snap-On’s dividend payout ratio is currently 44.82%.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director now directly owns 8,030 shares of the company’s stock, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,515 shares of company stock worth $17,094,296 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNA shares. Robert W. Baird lowered their price objective on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Monday, May 19th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Finally, Tigress Financial raised their target price on Snap-On from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

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.