State of Wisconsin Investment Board lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 16.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 174,827 shares of the company’s stock after selling 34,060 shares during the period. State of Wisconsin Investment Board’s holdings in Snap-on were worth $30,472,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. D.A. Davidson & CO. lifted its position in Snap-on by 15.6% during the fourth quarter. D.A. Davidson & CO. now owns 8,995 shares of the company’s stock valued at $1,568,000 after buying an additional 1,213 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Snap-on by 31.6% in the 4th quarter. Chartwell Investment Partners LLC now owns 13,295 shares of the company’s stock worth $2,317,000 after purchasing an additional 3,195 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Snap-on by 12.5% in the 4th quarter. Toronto Dominion Bank now owns 24,592 shares of the company’s stock worth $4,287,000 after purchasing an additional 2,734 shares during the last quarter. First Trust Advisors LP raised its position in shares of Snap-on by 147.6% in the 4th quarter. First Trust Advisors LP now owns 433,341 shares of the company’s stock worth $75,531,000 after purchasing an additional 258,310 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Snap-on by 16.2% in the 4th quarter. Sei Investments Co. now owns 31,119 shares of the company’s stock worth $5,424,000 after purchasing an additional 4,328 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.
SNA has been the subject of several recent analyst reports. Barrington Research raised Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a research report on Monday, October 23rd. Jefferies Group reaffirmed a “hold” rating and issued a $175.00 price target on shares of Snap-on in a research report on Friday, November 3rd. B. Riley reaffirmed a “buy” rating on shares of Snap-on in a research report on Wednesday, November 1st. Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $193.00 price target for the company in a research report on Wednesday, December 20th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $220.00 price target (up previously from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Snap-on has an average rating of “Buy” and a consensus price target of $192.00.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $174.55, for a total transaction of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Dudley Lehman sold 387 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $160.60, for a total value of $62,152.20. Following the sale, the director now owns 8,376 shares of the company’s stock, valued at $1,345,185.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,612 shares of company stock valued at $7,742,082. Corporate insiders own 3.70% of the company’s stock.
Shares of Snap-on Incorporated (SNA) opened at $160.88 on Monday. Snap-on Incorporated has a twelve month low of $140.83 and a twelve month high of $185.47. The company has a market capitalization of $9,125.28, a PE ratio of 16.90, a P/E/G ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 1.24.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.66 by $0.03. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. The company had revenue of $974.60 million during the quarter, compared to the consensus estimate of $940.50 million. During the same period last year, the company earned $2.47 EPS. Snap-on’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts predict that Snap-on Incorporated will post 11.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.28 annualized dividend and a yield of 2.04%. Snap-on’s payout ratio is 34.45%.
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Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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