Twin Capital Management Inc. Has $4.44 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Twin Capital Management Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,372 shares of the company’s stock after selling 251 shares during the period. Twin Capital Management Inc.’s holdings in Snap-on were worth $4,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Snap-on by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after acquiring an additional 44,555 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after acquiring an additional 26,260 shares in the last quarter. JPMorgan Chase & Co. grew its position in Snap-on by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock worth $309,984,000 after acquiring an additional 8,649 shares in the last quarter. Ariel Investments LLC grew its position in Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares in the last quarter. Finally, Northern Trust Corp grew its position in Snap-on by 3.6% in the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after acquiring an additional 30,664 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SNA shares. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research report on Monday. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $306.00.

Snap-on Price Performance

Shares of SNA stock traded down $19.79 during mid-day trading on Thursday, reaching $263.71. The company’s stock had a trading volume of 525,107 shares, compared to its average volume of 307,666. Snap-on Incorporated has a 1-year low of $239.08 and a 1-year high of $298.49. The company has a market cap of $13.93 billion, a P/E ratio of 14.28, a PEG ratio of 2.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The firm’s 50-day moving average is $283.74 and its two-hundred day moving average is $278.27.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $4.42 EPS. The business’s revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Snap-on Incorporated will post 19.22 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Friday, February 23rd. Snap-on’s payout ratio is 39.68%.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is owned by insiders.

Snap-on Profile

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