Snap-on Incorporated (NYSE:SNA) Shares Sold by Castellan Group

Castellan Group trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 9,008 shares of the company’s stock after selling 523 shares during the quarter. Castellan Group’s holdings in Snap-on were worth $2,610,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SNA. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the 3rd quarter worth approximately $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV raised its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new stake in Snap-on in the third quarter worth $39,000. Finally, Quarry LP boosted its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Snap-on stock opened at $355.64 on Friday. The stock has a 50-day moving average price of $339.35 and a two-hundred day moving average price of $296.43. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.67 billion, a PE ratio of 18.30, a P/E/G ratio of 2.35 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. Snap-on’s dividend payout ratio is 44.06%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNA. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,814 shares of company stock valued at $15,627,963 in the last quarter. Insiders own 4.10% of the company’s stock.

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.