Snap-On Incorporated $SNA Shares Sold by Burney Co.

Burney Co. decreased its position in Snap-On Incorporated (NYSE:SNA) by 11.1% during the 1st quarter, Holdings Channel reports. The fund owned 20,050 shares of the company’s stock after selling 2,516 shares during the quarter. Burney Co.’s holdings in Snap-On were worth $7,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Kathmere Capital Management LLC increased its position in shares of Snap-On by 36.1% in the 1st quarter. Kathmere Capital Management LLC now owns 992 shares of the company’s stock valued at $360,000 after purchasing an additional 263 shares during the last quarter. DGS Capital Management LLC lifted its position in shares of Snap-On by 10.3% during the 1st quarter. DGS Capital Management LLC now owns 1,357 shares of the company’s stock worth $493,000 after purchasing an additional 127 shares during the last quarter. Ascentis Independent Advisors grew its stake in shares of Snap-On by 2.5% during the first quarter. Ascentis Independent Advisors now owns 1,859 shares of the company’s stock worth $675,000 after purchasing an additional 46 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of Snap-On during the first quarter worth $267,000. Finally, Kepler Cheuvreux Suisse SA purchased a new position in Snap-On in the first quarter valued at $5,336,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Trading Up 0.5%

Shares of Snap-On stock opened at $414.07 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $381.11 and a 200-day simple moving average of $373.13. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.90 and a beta of 0.73. Snap-On Incorporated has a 12-month low of $310.23 and a 12-month high of $414.62.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $4.51 earnings per share. Snap-On’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Snap-On announced that its board has authorized a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SNA shares. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Robert W. Baird raised their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Roth Mkm restated a “buy” rating and set a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Five 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.com, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 1,330 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the sale, the chief financial officer directly owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This represents a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,117 shares of company stock worth $14,003,922 over the last three months. 3.80% of the stock is currently owned by company insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.