Wedge Capital Management L L P NC Sells 2,243 Shares of Snap-On Incorporated $SNA

Wedge Capital Management L L P NC decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,795 shares of the company’s stock after selling 2,243 shares during the period. Wedge Capital Management L L P NC’s holdings in Snap-On were worth $10,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Net Worth Advisory Group lifted its holdings in Snap-On by 23.4% during the 4th quarter. Net Worth Advisory Group now owns 2,400 shares of the company’s stock worth $827,000 after buying an additional 455 shares during the period. Dakota Wealth Management acquired a new stake in shares of Snap-On in the fourth quarter valued at about $2,785,000. Kathmere Capital Management LLC increased its stake in shares of Snap-On by 25.3% in the fourth quarter. Kathmere Capital Management LLC now owns 729 shares of the company’s stock valued at $251,000 after buying an additional 147 shares during the period. Czech National Bank raised its position in shares of Snap-On by 3.5% during the fourth quarter. Czech National Bank now owns 13,714 shares of the company’s stock worth $4,726,000 after acquiring an additional 465 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Snap-On by 10.3% during the fourth quarter. DAVENPORT & Co LLC now owns 870 shares of the company’s stock worth $300,000 after acquiring an additional 81 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Down 1.0%

NYSE SNA opened at $358.21 on Friday. The stock has a market capitalization of $18.65 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.48 and a beta of 0.78. The business has a 50 day simple moving average of $373.59 and a 200 day simple moving average of $353.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13.

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

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s payout ratio is presently 50.86%.

Analyst Upgrades and Downgrades

SNA has been the topic of several analyst reports. Tigress Financial upped their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. 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 price objective on shares of Snap-On in a research note on Friday, February 6th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.33.

Insider Activity at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of Snap-On stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer directly owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the transaction, the senior vice president owned 19,480 shares in the company, valued at $7,502,332.40. This represents a 29.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,650 shares of company stock worth $15,210,959 over the last quarter. 3.80% of the stock is currently owned by insiders.

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.