RB Capital Management LLC Sells 42 Shares of Snap-On Incorporated $SNA

RB Capital Management LLC cut its position in Snap-On Incorporated (NYSE:SNA) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,694 shares of the company’s stock after selling 42 shares during the quarter. RB Capital Management LLC’s holdings in Snap-On were worth $908,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Snap-On in the first quarter worth about $25,000. Golden State Wealth Management LLC increased its holdings in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On during the first quarter valued at about $35,000. Finally, ORG Partners LLC increased its holdings in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after acquiring an additional 95 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Up 0.3%

NYSE:SNA opened at $329.80 on Wednesday. The firm has a market capitalization of $17.20 billion, a P/E ratio of 17.59, a PEG ratio of 2.29 and a beta of 0.76. Snap-On Incorporated has a 1-year low of $268.90 and a 1-year high of $373.89. The company’s fifty day moving average price is $321.03 and its 200-day moving average price is $323.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

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

Snap-On Announces Dividend

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

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,160 shares of company stock worth $16,650,792. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNA shares. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Finally, Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $356.17.

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.