Mutual of America Capital Management LLC Reduces Stake in Snap-On Incorporated (NYSE:SNA)

Mutual of America Capital Management LLC reduced its position in Snap-On Incorporated (NYSE:SNA) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,576 shares of the company’s stock after selling 337 shares during the period. Mutual of America Capital Management LLC’s holdings in Snap-On were worth $2,890,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Snap-On in the 1st quarter valued at approximately $25,000. Golden State Wealth Management LLC increased its stake in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Snap-On in the 1st quarter valued at approximately $35,000. CoreFirst Bank & Trust purchased a new position in Snap-On in the 4th quarter valued at approximately $40,000. Finally, ORG Partners LLC increased its stake in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after purchasing an additional 95 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the transaction, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock worth $9,482,532 over the last quarter. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SNA shares. Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday. Longbow Research raised Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research report on Monday, March 31st. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.17.

Snap-On Price Performance

SNA stock opened at $336.55 on Friday. Snap-On Incorporated has a 52-week low of $266.56 and a 52-week high of $373.90. The stock’s fifty day simple moving average is $318.89 and its 200-day simple moving average is $327.82. The company has a quick ratio of 3.18, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $5.07 earnings per share. The business’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 2.54%. The ex-dividend date was Tuesday, May 20th. Snap-On’s dividend payout ratio (DPR) is 44.82%.

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.