Ballentine Partners LLC Sells 39 Shares of Snap-On Incorporated (NYSE:SNA)

Ballentine Partners LLC decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 3.1% in the first quarter, HoldingsChannel reports. The fund owned 1,236 shares of the company’s stock after selling 39 shares during the quarter. Ballentine Partners LLC’s holdings in Snap-On were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On during the 1st quarter valued at $25,000. Golden State Wealth Management LLC grew its position in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Snap-On during the 1st quarter valued at $35,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-On during the 4th quarter valued at $40,000. Finally, TCTC Holdings LLC lifted its stake in shares of Snap-On by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 1.8%

SNA opened at $313.32 on Wednesday. The firm has a 50-day simple moving average of $318.08 and a two-hundred day simple moving average of $327.95. Snap-On Incorporated has a 52 week low of $266.55 and a 52 week high of $373.90. The company has a market capitalization of $16.38 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.76. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $4.91 EPS. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 44.82%.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 in the last 90 days. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNA. Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday. Finally, Robert W. Baird cut their target price on Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

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.