Snap-On Incorporated $SNA Stock Holdings Lowered by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in Snap-On Incorporated (NYSE:SNA) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,563,695 shares of the company’s stock after selling 6,909 shares during the period. Geode Capital Management LLC’s holdings in Snap-On were worth $537,027,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snap-On during the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC purchased a new position in Snap-On during the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. grew its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. Finally, United Community Bank purchased a new position in Snap-On during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNA shares. Tigress Financial boosted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Robert W. Baird boosted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $387.67.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Price Performance

NYSE SNA opened at $371.75 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $371.30 and a 200 day simple moving average of $364.00. The company has a market cap of $19.26 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.61 and a beta of 0.75. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.51 earnings per share. On average, sell-side analysts predict that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On’s dividend payout ratio is currently 50.39%.

Snap-On declared that its board has approved a stock buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.