LSV Asset Management Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

LSV Asset Management decreased its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 505,374 shares of the company's stock after selling 33,828 shares during the quarter. LSV Asset Management owned 0.96% of Snap-on worth $171,564,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on in the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on during the 4th quarter valued at approximately $28,000. CoreFirst Bank & Trust bought a new stake in Snap-on in the 4th quarter valued at $40,000. Finally, TCTC Holdings LLC boosted its stake in Snap-on by 41.3% during 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 during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were 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 in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

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Snap-on Stock Performance

Shares of NYSE:SNA traded up $1.60 on Tuesday, hitting $338.49. 173,936 shares of the company were exchanged, compared to its average volume of 350,216. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The firm has a market capitalization of $17.74 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $333.16 and its 200 day moving average price is $337.49.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 business earned $4.75 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. Tigress Financial upped 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. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Robert W. Baird decreased their price objective on Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.67.

Snap-on Company 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.