Snap-On Incorporated $SNA Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,502 shares of the company’s stock after selling 462 shares during the quarter. Inspire Advisors LLC’s holdings in Snap-On were worth $778,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in SNA. Kestra Private Wealth Services LLC increased its holdings in shares of Snap-On by 5.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 3,526 shares of the company’s stock valued at $1,188,000 after purchasing an additional 177 shares in the last quarter. IFP Advisors Inc boosted its holdings in Snap-On by 22.2% during the first quarter. IFP Advisors Inc now owns 1,009 shares of the company’s stock worth $342,000 after buying an additional 183 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Snap-On by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,041 shares of the company’s stock worth $1,362,000 after buying an additional 104 shares during the period. Allianz Asset Management GmbH increased its holdings in Snap-On by 80.1% in the first quarter. Allianz Asset Management GmbH now owns 40,078 shares of the company’s stock valued at $13,507,000 after buying an additional 17,819 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its position in shares of Snap-On by 36.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,236 shares of the company’s stock valued at $383,000 after acquiring an additional 327 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNA shares. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Five investment 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’s stock. According to data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Stock Up 0.4%

SNA opened at $330.16 on Wednesday. The firm has a market cap of $17.17 billion, a P/E ratio of 17.31, a PEG ratio of 2.33 and a beta of 0.81. The business’s fifty day simple moving average is $338.81 and its 200 day simple moving average is $327.50. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

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

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $2.44 per share. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 3.0%. Snap-On’s payout ratio is currently 51.18%.

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.