Acropolis Investment Management LLC Reduces Holdings in Snap-on Incorporated (NYSE:SNA)

Acropolis Investment Management LLC lowered its stake in Snap-on Incorporated (NYSE:SNA) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,521 shares of the company’s stock after selling 170 shares during the quarter. Acropolis Investment Management LLC’s holdings in Snap-on were worth $2,214,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after purchasing an additional 56,266 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the period. Finally, Earnest Partners LLC increased its holdings in shares of Snap-on by 1.4% during the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after buying an additional 13,033 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

NYSE SNA opened at $339.73 on Wednesday. The company has a 50-day moving average price of $351.87 and a two-hundred day moving average price of $308.86. The stock has a market cap of $17.84 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Analyst Ratings Changes

SNA has been the subject of a number of research reports. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research increased their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $345.40.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of the 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 in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,679 shares of company stock valued at $16,222,574. Corporate insiders own 4.10% of the company’s stock.

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.