Kovitz Investment Group Partners LLC Sells 21,038 Shares of Snap-on Incorporated (NYSE:SNA)

Kovitz Investment Group Partners LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 76.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,435 shares of the company’s stock after selling 21,038 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Snap-on were worth $2,184,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC lifted its holdings in shares of Snap-on by 9.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,984 shares of the company’s stock valued at $1,013,000 after purchasing an additional 268 shares during the last quarter. MGO One Seven LLC lifted its position in Snap-on by 36.6% in the 4th quarter. MGO One Seven LLC now owns 1,419 shares of the company’s stock valued at $482,000 after acquiring an additional 380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Snap-on by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,308 shares of the company’s stock valued at $25,567,000 after acquiring an additional 770 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Snap-on by 19.1% during the 4th quarter. Hsbc Holdings PLC now owns 498,626 shares of the company’s stock valued at $169,302,000 after purchasing an additional 79,791 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Snap-on in the fourth quarter worth $233,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Up 0.2 %

Shares of SNA opened at $309.48 on Tuesday. The business’s 50 day moving average is $327.48 and its 200 day moving average is $339.08. The company has a market capitalization of $16.18 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the company earned $4.91 earnings per share. Research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on’s dividend payout ratio is currently 44.82%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com cut Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday, April 17th. Finally, 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and an average target price of $350.83.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by insiders.

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.