Rowlandmiller & PARTNERS.ADV Trims Stock Position in Snap-On Incorporated $SNA

Rowlandmiller & PARTNERS.ADV lowered its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,375 shares of the company’s stock after selling 96 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Snap-On were worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. Auto Owners Insurance Co increased its position in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. GAMMA Investing LLC increased its holdings in Snap-On by 65,113.6% in the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock worth $236,919,000 after acquiring an additional 701,925 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Snap-On by 54.3% during the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after acquiring an additional 239,908 shares during the period. Nuveen LLC bought a new stake in Snap-On during the 1st quarter worth approximately $45,711,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Snap-On by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after acquiring an additional 115,306 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SNA. Tigress Financial raised their target price on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Robert W. Baird raised their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $357.00.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction 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. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Company insiders own 3.90% of the company’s stock.

Snap-On Trading Up 0.5%

Snap-On stock opened at $333.70 on Friday. The stock has a market cap of $17.41 billion, a P/E ratio of 17.80, a PEG ratio of 2.31 and a beta of 0.77. 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 Incorporated has a 1 year low of $278.75 and a 1 year high of $373.89. The firm’s 50 day moving average price is $324.94 and its 200-day moving average price is $322.95.

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

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is presently 45.65%.

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.