LSV Asset Management Has $91.47 Million Holdings in Snap-On Incorporated $SNA

LSV Asset Management lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 14.7% in the 4th quarter, Holdings Channel reports. The firm owned 265,434 shares of the company’s stock after selling 45,639 shares during the quarter. LSV Asset Management’s holdings in Snap-On were worth $91,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Snap-On in the 4th quarter worth $25,000. GoalVest Advisory LLC bought a new position in Snap-On in the 4th quarter worth $28,000. Montag A & Associates Inc. raised its holdings in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after acquiring an additional 73 shares during the period. United Community Bank bought a new position in Snap-On in the 4th quarter worth $43,000. Finally, MUFG Securities EMEA plc bought a new position in Snap-On in the 2nd quarter worth $48,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $367.10 on Friday. The firm’s 50-day moving average is $370.73 and its 200-day moving average is $362.92. Snap-On Incorporated has a 52-week low of $301.82 and a 52-week high of $400.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.58 and a beta of 0.75.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $4.51 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On declared that its board has initiated a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s payout ratio is presently 50.39%.

Insider Transactions at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the transaction, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. The trade was a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 53,716 shares of company stock worth $20,328,412. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on SNA shares. Roth Mkm reiterated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Robert W. Baird lifted their target price on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Tigress Financial lifted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.20.

About Snap-On

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.