River Global Investors LLP Sells 1,013 Shares of Snap-on Incorporated (NYSE:SNA)

River Global Investors LLP cut its stake in Snap-on Incorporated (NYSE:SNA) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,387 shares of the company’s stock after selling 1,013 shares during the quarter. River Global Investors LLP’s holdings in Snap-on were worth $690,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Avantax Planning Partners Inc. grew its holdings in shares of Snap-on by 3.5% in the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after acquiring an additional 38 shares in the last quarter. Phoenix Wealth Advisors lifted its stake in Snap-on by 3.1% in the 3rd quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after purchasing an additional 40 shares during the period. Alliance Wealth Advisors LLC UT increased its position in Snap-on by 0.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after buying an additional 47 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in shares of Snap-on by 2.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock valued at $570,000 after buying an additional 48 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on SNA shares. Robert W. Baird reduced their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock worth $14,089,523 over the last three months. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Up 1.2 %

Shares of Snap-on stock traded up $3.29 on Monday, hitting $274.32. The stock had a trading volume of 62,150 shares, compared to its average volume of 310,691. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The firm has a market capitalization of $14.46 billion, a P/E ratio of 14.22, a PEG ratio of 1.87 and a beta of 1.00. The stock has a 50 day moving average of $284.25 and a 200 day moving average of $279.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.60 EPS. Sell-side analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

About Snap-on

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.