Snap-On Incorporated $SNA Shares Sold by LSV Asset Management

LSV Asset Management lowered its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 23.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,073 shares of the company’s stock after selling 94,930 shares during the period. LSV Asset Management’s holdings in Snap-On were worth $107,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after buying an additional 80,422 shares during the period. State Street Corp raised its stake in Snap-On by 0.6% during the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after acquiring an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after acquiring an additional 36,421 shares during the period. First Trust Advisors LP grew its stake in shares of Snap-On by 40.7% in the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after purchasing an additional 547,527 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after purchasing an additional 36,964 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Performance

NYSE:SNA opened at $378.65 on Friday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The firm’s fifty day simple moving average is $359.68 and its 200-day simple moving average is $342.93. The stock has a market cap of $19.69 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $4.82 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Analyst Ratings Changes

Several brokerages recently weighed in on SNA. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on shares of Snap-On in a report on Friday, February 6th. Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price objective (up previously from $385.00) on shares of Snap-On in a report on Tuesday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.67.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. This trade represents a 59.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,036 shares of company stock worth $16,792,028 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.