Gulf International Bank UK Ltd Sells 1,037 Shares of Snap-On Incorporated (NYSE:SNA)

Gulf International Bank UK Ltd reduced its position in Snap-On Incorporated (NYSE:SNA) by 25.1% during the first quarter, HoldingsChannel reports. The firm owned 3,101 shares of the company’s stock after selling 1,037 shares during the period. Gulf International Bank UK Ltd’s holdings in Snap-On were worth $1,045,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the 1st quarter valued at $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On during the 1st quarter valued at $35,000. Finally, ORG Partners LLC lifted its position in shares of Snap-On by 150.8% during the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after acquiring an additional 95 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-On Stock Performance

SNA opened at $326.04 on Friday. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $319.58 and its two-hundred day moving average price is $325.32. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $5.07 earnings per share. The business’s revenue was up .0% on a year-over-year basis. On average, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio is presently 45.65%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the 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 sale, the director owned 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,160 shares of company stock worth $16,650,792. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Bank of America boosted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Robert W. Baird boosted their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $356.17.

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.