Snap-On Incorporated $SNA Stock: Miller Howard Investments Inc. NY Cuts Stake

Miller Howard Investments Inc. NY lessened its holdings in Snap-On Incorporated (NYSE:SNA) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,212 shares of the company’s stock after selling 1,667 shares during the period. Miller Howard Investments Inc. NY owned 0.27% of Snap-On worth $50,583,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Snap-On during the 2nd quarter worth about $1,715,363,000. State Street Corp increased its holdings in shares of Snap-On by 2.9% during the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock valued at $948,324,000 after acquiring an additional 66,754 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Snap-On by 0.4% in the 1st quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Snap-On by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock valued at $319,955,000 after acquiring an additional 17,337 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Aldo Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,220 shares of company stock worth $11,704,411 in the last ninety days. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNA. Roth Capital restated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Barclays lowered their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Thursday, October 15th. Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $385.00 price objective on shares of Snap-On in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and an average target price of $434.00.

Snap-On Stock Up 0.1%

SNA opened at $357.53 on Tuesday. The business has a 50 day moving average of $374.77 and a 200-day moving average of $380.19. The stock has a market capitalization of $18.44 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.40 and a beta of 0.71. The company has a current ratio of 3.55, a quick ratio of 2.71 and a debt-to-equity ratio of 0.14. Snap-On Incorporated has a 1-year low of $320.80 and a 1-year high of $423.02.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the firm posted $4.71 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snap-On Incorporated will post 19.50 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio is 50.75%.

About Snap-On

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.