BB&T Securities LLC Sells 8,826 Shares of Snap-on (SNA)

BB&T Securities LLC decreased its holdings in Snap-on (NYSE:SNA) by 44.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,224 shares of the company’s stock after selling 8,826 shares during the quarter. BB&T Securities LLC’s holdings in Snap-on were worth $1,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Snap-on by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after purchasing an additional 270,905 shares during the period. Schroder Investment Management Group lifted its stake in Snap-on by 13.0% in the third quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after acquiring an additional 148,037 shares during the last quarter. Bessemer Group Inc. lifted its stake in Snap-on by 7.9% in the fourth quarter. Bessemer Group Inc. now owns 933,862 shares of the company’s stock worth $162,774,000 after acquiring an additional 68,432 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Snap-on by 14.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 792,225 shares of the company’s stock worth $138,086,000 after acquiring an additional 97,613 shares during the last quarter. Finally, Ariel Investments LLC lifted its stake in Snap-on by 1.7% in the fourth quarter. Ariel Investments LLC now owns 776,792 shares of the company’s stock worth $135,395,000 after acquiring an additional 12,758 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

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Snap-on (NYSE:SNA) opened at $146.26 on Monday. Snap-on has a 12 month low of $140.83 and a 12 month high of $185.47. The company has a quick ratio of 1.24, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock has a market cap of $8,296.01, a P/E ratio of 15.36, a P/E/G ratio of 1.23 and a beta of 1.12.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.03. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The company had revenue of $974.60 million for the quarter, compared to analysts’ expectations of $940.50 million. During the same quarter last year, the company earned $2.47 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. equities research analysts forecast that Snap-on will post 11.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.28 dividend on an annualized basis and a yield of 2.24%. Snap-on’s payout ratio is currently 34.45%.

In other Snap-on news, SVP Anup R. Banerjee sold 2,091 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $160.11, for a total transaction of $334,790.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Thomas L. Kassouf sold 96,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.40, for a total transaction of $15,398,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,355 shares of company stock worth $24,058,960. 4.00% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on SNA. Robert W. Baird decreased their price target on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research note on Thursday, February 8th. Barrington Research reiterated a “buy” rating on shares of Snap-on in a research note on Thursday, March 8th. Finally, Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $206.00 price target for the company in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Snap-on presently has an average rating of “Buy” and a consensus price target of $192.00.

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About Snap-on

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

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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