Focus Partners Advisor Solutions LLC Sells 885 Shares of Snap-On Incorporated $SNA

Focus Partners Advisor Solutions LLC trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 43.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,132 shares of the company’s stock after selling 885 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Snap-On were worth $352,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNA. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snap-On during the 2nd quarter worth about $434,938,000. Auto Owners Insurance Co boosted its stake 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 worth $361,612,000 after buying an additional 1,070,025 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 buying an additional 239,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Snap-On during the 2nd quarter worth about $56,595,000. Finally, Nuveen LLC acquired a new position in shares of Snap-On during the 1st quarter worth about $45,711,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Up 0.4%

SNA stock opened at $338.63 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The company has a fifty day moving average price of $336.00 and a two-hundred day moving average price of $325.06. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $4.70 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s payout ratio is currently 44.89%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNA shares. Robert W. Baird increased their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Bank of America increased their price objective 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. Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and an average target price of $365.00.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’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 transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the business’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 of the company’s stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Corporate insiders own 3.90% of the company’s stock.

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.