Cwm LLC Reduces Stake in Snap-on Incorporated (NYSE:SNA)

Cwm LLC has trimmed its investment in Snap-on Incorporated (NYSE:SNA) by 1.2% during the third quarter, as revealed in their latest 13F filing with the Securities and Exchange Commission. After selling 67 shares in this period, the fund now holds a total of 5,332 shares of Snap-on, valued at approximately $1,545,000.

Additionally, several other institutional investors have made changes to their stakes in Snap-on. Brookstone Capital Management increased its holdings by 25.4%, now owning 1,116 shares worth $323,000 after acquiring an additional 226 shares. Bridge Creek Capital Management LLC also established a new position in Snap-on valued at around $203,000 during the same quarter. City Center Advisors LLC saw a rise of 27.9% in their stake, bringing their total to 931 shares valued at $270,000 after buying 203 more shares.

Moreover, the Czech National Bank raised its investment in Snap-on by 6.8%, holding 10,732 shares worth $3,109,000 after purchasing an additional 685 shares. Handelsbanken Fonder AB also augmented its stake by 22.9%, now owning 41,000 shares valued at $11,878,000 after adding 7,652 shares. Currently, hedge funds and institutional investors collectively own 84.88% of Snap-on’s stock.

Insider Transactions

In other developments, Vice President Iain Boyd sold 6,044 shares on October 15th at an average price of $298.99, amounting to a transaction value of approximately $1,807,095.56. Following this transaction, Boyd's ownership in Snap-on stands at 10,493 shares, valued at around $3,137,302.07. Another insider, VP June C. Lemerand, sold 1,186 shares on August 26th for $336,788.42, leaving her with 2,283 shares valued at $648,303.51. Over the last ninety days, insiders have offloaded 35,848 shares, totaling a value of $9,884,486, with corporate insiders holding 4.10% of the stock.

Analyst Ratings

Recently, various analysts have commented on Snap-on’s stock. Robert W. Baird downgraded its price target from $282.00 to $275.00 and assigned a “neutral” rating. Conversely, Tigress Financial maintained a “buy” rating with a target price of $336.00. Barrington Research upheld an “outperform” rating with a $325.00 target, while Roth MKM reiterated their “buy” rating with a price target of $324.00.

Current Stock Performance

Recent Stock Performance

As of Wednesday, shares of Snap-on opened at $295.68. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 15.51, and a price-to-earnings-growth ratio of 1.99. The company’s 50-day simple moving average is $281.00, and its 200-day simple moving average stands at $276.06. Snap-on operates with a quick ratio of 3.05 and a current ratio of 4.06, indicating strong liquidity, alongside a debt-to-equity ratio of 0.22. The stock has seen a 52-week low of $249.84 and a high of $302.64.

Snap-on reported its earnings on July 18th, revealing earnings per share of $5.07, surpassing the consensus estimate of $4.94. The company recorded a return on equity of 19.90% and a net margin of 21.90%, with revenues of $1.18 billion. This represented a 1.0% decline in revenue from the previous year. Analysts are predicting an EPS of 18.95 for the current fiscal year.

Dividend Information

Snap-on recently announced a quarterly dividend paid on September 10th to shareholders recorded as of August 19th. Each shareholder received a dividend of $1.86, leading to an annualized dividend of $7.44, translating to a yield of 2.52%. The payout ratio currently stands at 39.03%.

About Snap-on

Snap-on Incorporated specializes in the manufacture and marketing of tools, diagnostics, equipment, and repair systems for professional users globally. The company's operations are divided into segments including the Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services.

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