Vanguard Group Inc. Decreases Stake in Snap-on Incorporated (NYSE:SNA)

Vanguard Group Inc. reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,430,977 shares of the company’s stock after selling 28,175 shares during the quarter. Vanguard Group Inc. owned about 12.20% of Snap-on worth $1,857,523,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the 4th quarter worth approximately $30,000. BKM Wealth Management LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $33,000. Exchange Traded Concepts LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $43,000. Itau Unibanco Holding S.A. bought a new stake in shares of Snap-on during the third quarter valued at approximately $49,000. Finally, Orion Capital Management LLC bought a new stake in shares of Snap-on during the third quarter valued at approximately $49,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNA has been the topic of several research reports. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird dropped their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Snap-on currently has an average rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Trading Up 0.4 %

Snap-on stock opened at $269.31 on Wednesday. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $273.39 and its two-hundred day simple moving average is $280.80. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly 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 firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.60 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 39,336 shares of company stock worth $10,563,314 over the last quarter. 4.10% of the stock is currently owned by insiders.

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.