Brandywine Global Investment Management LLC Sells 2,310 Shares of Snap-on Incorporated (NYSE:SNA)

Brandywine Global Investment Management LLC cut its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,030 shares of the company's stock after selling 2,310 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Snap-on worth $10,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on during the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on during the fourth quarter worth approximately $40,000. Finally, TCTC Holdings LLC raised its position in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after buying an additional 43 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is currently owned by insiders.

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Snap-on Price Performance

Shares of SNA stock traded down $12.48 on Friday, reaching $314.98. The company had a trading volume of 649,015 shares, compared to its average volume of 345,360. The stock has a market capitalization of $16.51 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business's 50-day moving average is $338.24 and its 200 day moving average is $335.37. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the company earned $4.75 EPS. Equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.72%. Snap-on's payout ratio is presently 43.90%.

Analysts Set New Price Targets

SNA has been the subject of a number of analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $355.33.

Snap-on Profile

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.