Inspire Investing LLC Sells 70 Shares of Snap-on Incorporated (NYSE:SNA)

Inspire Investing LLC decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,315 shares of the company’s stock after selling 70 shares during the period. Inspire Investing LLC’s holdings in Snap-on were worth $1,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNA. Rockland Trust Co. bought a new position in shares of Snap-on during the first quarter worth about $889,000. Goldman Sachs Group Inc. lifted its position in shares of Snap-on by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after purchasing an additional 28,566 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at $4,571,000. SG Americas Securities LLC increased its position in shares of Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after buying an additional 3,238 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Snap-on during the second quarter worth $3,653,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock worth $8,077,390 in the last quarter. Insiders own 4.10% of the company’s stock.

Snap-on Stock Up 1.9 %

Shares of NYSE:SNA opened at $291.81 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The business’s 50 day simple moving average is $280.49 and its two-hundred day simple moving average is $276.06. The firm has a market cap of $15.37 billion, a P/E ratio of 15.17, a PEG ratio of 1.99 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. During the same quarter last year, the firm posted $4.89 EPS. Snap-on’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on declared that its board has authorized a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is presently 38.67%.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. Finally, Robert W. Baird lowered their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th.

Snap-on 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.