Victory Capital Management Inc. Lowers Holdings in Snap-on Incorporated (NYSE:SNA)

Victory Capital Management Inc. lessened its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,273 shares of the company's stock after selling 22,504 shares during the period. Victory Capital Management Inc. owned 0.26% of Snap-on worth $46,262,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC purchased a new position in shares of Snap-on during the 4th quarter valued at $512,000. Vest Financial LLC lifted its holdings in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock worth $5,764,000 after purchasing an additional 67 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock worth $13,264,000 after acquiring an additional 1,605 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Snap-on in the 3rd quarter worth about $19,291,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 0.6 %

SNA stock traded down $1.97 during trading on Monday, hitting $340.08. 184,221 shares of the company traded hands, compared to its average volume of 377,987. The firm has a market capitalization of $17.82 billion, a PE ratio of 17.44, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a 50-day moving average of $342.21 and a 200-day moving average of $328.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

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Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company posted $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, February 24th. Snap-on's payout ratio is presently 43.90%.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now owns 100,668 shares of the company's stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,220 shares of company stock worth $6,906,802 in the last quarter. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Snap-on presently has a consensus rating of "Hold" and a consensus price target of $346.40.

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.