First Republic Investment Management Inc. decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 21.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,603 shares of the company’s stock after selling 3,898 shares during the quarter. First Republic Investment Management Inc.’s holdings in Snap-on were worth $2,346,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Mackay Shields LLC purchased a new stake in shares of Snap-on during the 1st quarter worth about $1,416,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Snap-on by 340.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,490 shares of the company’s stock worth $1,990,000 after purchasing an additional 10,427 shares during the period. Aperio Group LLC grew its holdings in shares of Snap-on by 3.7% during the 1st quarter. Aperio Group LLC now owns 22,898 shares of the company’s stock worth $3,378,000 after purchasing an additional 810 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Snap-on by 36.0% during the 1st quarter. Neuberger Berman Group LLC now owns 2,110 shares of the company’s stock worth $311,000 after purchasing an additional 558 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Snap-on by 1.2% during the 1st quarter. US Bancorp DE now owns 61,645 shares of the company’s stock worth $9,095,000 after purchasing an additional 715 shares during the period.

In related news, Chairman Nicholas T. Pinchuk sold 21,624 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $169.79, for a total transaction of $3,671,538.96. Following the transaction, the chairman now directly owns 443,955 shares of the company’s stock, valued at approximately $75,379,119.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Aldo John Pagliari sold 6,480 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $177.89, for a total value of $1,152,727.20. The disclosure for this sale can be found here. Insiders have sold a total of 67,895 shares of company stock worth $11,659,865 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Snap-on from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barrington Research reiterated a “buy” rating on shares of Snap-on in a report on Monday, July 16th. ValuEngine upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Northcoast Research cut Snap-on from a “buy” rating to a “neutral” rating in a report on Tuesday, July 24th. Finally, B. Riley set a $205.00 target price on Snap-on and gave the stock a “buy” rating in a report on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Snap-on currently has an average rating of “Buy” and an average target price of $192.75.

Snap-on stock opened at $186.72 on Tuesday. The company has a market cap of $10.52 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.53 and a beta of 1.17. The company has a current ratio of 2.33, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a one year low of $141.63 and a one year high of $187.83.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 19th. The company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.95 by $0.16. The firm had revenue of $954.60 million for the quarter, compared to analyst estimates of $952.04 million. Snap-on had a return on equity of 21.04% and a net margin of 16.04%. Snap-on’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. sell-side analysts expect that Snap-on Incorporated will post 11.8 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, August 16th. Snap-on’s dividend payout ratio (DPR) is presently 32.41%.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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

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