Sienna Gestion Sells 30,827 Shares of Snap-On Incorporated $SNA

Sienna Gestion lessened its stake in shares of Snap-On Incorporated (NYSE:SNA) by 92.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,631 shares of the company’s stock after selling 30,827 shares during the period. Sienna Gestion’s holdings in Snap-On were worth $831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP grew its stake in Snap-On by 40.7% in the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after buying an additional 547,527 shares during the last quarter. Norges Bank bought a new stake in Snap-On during the second quarter valued at about $168,010,000. Victory Capital Management Inc. boosted its holdings in Snap-On by 346.0% during the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after acquiring an additional 216,813 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Snap-On in the third quarter valued at about $61,134,000. Finally, Laurel Wealth Advisors LLC increased its stake in shares of Snap-On by 21,600.8% in the second quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock worth $51,322,000 after purchasing an additional 164,166 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on SNA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Roth Mkm restated a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Tigress Financial boosted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Robert W. Baird set a $375.00 price target on shares of Snap-On in a research report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Price Performance

Shares of Snap-On stock opened at $372.16 on Monday. The firm has a market cap of $19.32 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The firm’s 50-day simple moving average is $370.77 and its 200-day simple moving average is $350.03. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $4.82 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling

In other news, SVP Timothy L. Chambers sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the sale, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 7,043 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer directly owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 46,429 shares of company stock worth $17,598,523 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Snap-On Company Profile

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.