Snap-on Incorporated (NYSE:SNA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Snap-on Incorporated (NYSE:SNA) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 117,743 shares of the company’s stock after selling 16,105 shares during the period. Victory Capital Management Inc.’s holdings in Snap-on were worth $34,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after purchasing an additional 26,260 shares during the period. Nordea Investment Management AB lifted its stake in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares during the period. Northern Trust Corp lifted its stake in shares of Snap-on by 4.6% in the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock valued at $212,758,000 after purchasing an additional 36,556 shares during the period. Earnest Partners LLC lifted its stake in shares of Snap-on by 5.8% in the third quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock valued at $197,705,000 after purchasing an additional 42,701 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock worth $14,089,523 over the last ninety days. 4.10% of the stock is owned by company insiders.

Snap-on Price Performance

SNA opened at $274.74 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49. The company has a 50 day moving average of $284.32 and a two-hundred day moving average of $279.64. The company has a market cap of $14.48 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.87 and a beta of 1.00.

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

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.71%. Snap-on’s dividend payout ratio is currently 39.03%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird cut their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Profile

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.