Snap-on Incorporated (NYSE:SNA) Shares Sold by Riverhead Capital Management LLC

Riverhead Capital Management LLC decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 24.4% in the first quarter, HoldingsChannel reports. The firm owned 24,115 shares of the company’s stock after selling 7,777 shares during the quarter. Riverhead Capital Management LLC’s holdings in Snap-on were worth $3,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SNA. CSat Investment Advisory L.P. lifted its stake in Snap-on by 81.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock worth $30,000 after purchasing an additional 92 shares during the last quarter. Signaturefd LLC lifted its stake in Snap-on by 326.7% in the first quarter. Signaturefd LLC now owns 192 shares of the company’s stock worth $30,000 after purchasing an additional 147 shares during the last quarter. Riverview Trust Co bought a new stake in Snap-on in the fourth quarter worth about $33,000. FTB Advisors Inc. lifted its stake in Snap-on by 120.5% in the first quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock worth $56,000 after purchasing an additional 200 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in Snap-on in the first quarter worth about $56,000.

SNA has been the subject of several analyst reports. Barrington Research reissued a “buy” rating and issued a $185.00 price objective on shares of Snap-on in a research note on Wednesday, May 29th. Zacks Investment Research raised shares of Snap-on from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research note on Friday, May 17th. Bank of America downgraded shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price objective for the company. in a research note on Tuesday, April 16th. Finally, Robert W. Baird downgraded shares of Snap-on from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $186.00 to $160.00 in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Snap-on presently has an average rating of “Hold” and a consensus price target of $185.20.

In related news, Chairman Nicholas T. Pinchuk sold 11,783 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $156.68, for a total value of $1,846,160.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 21,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $169.75, for a total transaction of $3,564,750.00. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Shares of Snap-on stock traded down $2.31 on Friday, hitting $162.86. 440 shares of the company traded hands, compared to its average volume of 393,420. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.66 and a current ratio of 2.42. Snap-on Incorporated has a 52 week low of $135.29 and a 52 week high of $189.46. The company has a market capitalization of $9.00 billion, a PE ratio of 13.84, a P/E/G ratio of 1.56 and a beta of 1.26.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 18th. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.10. The company had revenue of $921.70 million during the quarter, compared to the consensus estimate of $933.13 million. Snap-on had a net margin of 18.64% and a return on equity of 21.66%. Snap-on’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 12.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 21st were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Monday, May 20th. Snap-on’s dividend payout ratio (DPR) is 32.18%.

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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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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