Charles Schwab Investment Management Inc. Reduces Position in Snap-on Incorporated (NYSE:SNA)

Charles Schwab Investment Management Inc. trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 0.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,275,792 shares of the company’s stock after selling 413 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Snap-on were worth $368,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Apollon Wealth Management LLC grew its holdings in Snap-on by 14.1% during the 4th quarter. Apollon Wealth Management LLC now owns 5,354 shares of the company’s stock valued at $1,546,000 after buying an additional 663 shares in the last quarter. Lincoln National Corp lifted its position in shares of Snap-on by 50.7% in the fourth quarter. Lincoln National Corp now owns 2,354 shares of the company’s stock worth $680,000 after buying an additional 792 shares in the last quarter. Machina Capital S.A.S. bought a new position in Snap-on during the fourth quarter valued at approximately $315,000. Private Advisor Group LLC grew its holdings in Snap-on by 1.2% during the 4th quarter. Private Advisor Group LLC now owns 9,768 shares of the company’s stock valued at $2,821,000 after buying an additional 118 shares in the last quarter. Finally, Gallacher Capital Management LLC bought a new stake in Snap-on in the 4th quarter worth approximately $329,000. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on 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 transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold a total of 49,930 shares of company stock valued at $14,089,523 over the last ninety days. 4.10% of the stock is owned by company insiders.

Snap-on Trading Down 0.3 %

SNA stock traded down $0.70 during trading on Wednesday, hitting $276.16. The company had a trading volume of 70,494 shares, compared to its average volume of 308,277. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $14.56 billion, a P/E ratio of 14.45, a PEG ratio of 1.87 and a beta of 1.00. The company has a 50 day simple moving average of $284.38 and a 200-day simple moving average of $279.81. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $4.60 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast 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. Stockholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.69%. Snap-on’s dividend payout ratio is presently 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.