Snap-on Incorporated (NYSE:SNA) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in Snap-on Incorporated (NYSE:SNA) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 77,535 shares of the company’s stock after selling 11,562 shares during the period. Russell Investments Group Ltd.’s holdings in Snap-on were worth $22,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Snap-on by 25.8% in the third quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock valued at $1,133,000 after purchasing an additional 910 shares during the period. Xponance Inc. boosted its holdings in shares of Snap-on by 2.6% in the third quarter. Xponance Inc. now owns 7,737 shares of the company’s stock valued at $1,973,000 after acquiring an additional 196 shares during the period. Raymond James & Associates boosted its stake in Snap-on by 4.1% during the 3rd quarter. Raymond James & Associates now owns 341,935 shares of the company’s stock worth $87,214,000 after purchasing an additional 13,475 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Snap-on by 3.8% during the third quarter. Stratos Wealth Partners LTD. now owns 27,235 shares of the company’s stock worth $6,947,000 after buying an additional 1,005 shares during the period. Finally, NorthRock Partners LLC purchased a new position in shares of Snap-on in the 3rd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was 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 $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock valued at $14,089,523 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SNA shares. Robert W. Baird lowered their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average price target of $316.75.

Snap-on Price Performance

Shares of NYSE SNA opened at $267.74 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49. The firm has a market capitalization of $14.12 billion, a P/E ratio of 14.05, a PEG ratio of 1.85 and a beta of 1.00. The company’s fifty day moving average is $284.33 and its two-hundred day moving average is $279.13.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $4.60 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Analysts forecast that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

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.