Fisher Asset Management LLC Lowers Stake in Snap-On Incorporated $SNA

Fisher Asset Management LLC lessened its stake in Snap-On Incorporated (NYSE:SNA) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,531 shares of the company’s stock after selling 2,180 shares during the period. Fisher Asset Management LLC owned 0.09% of Snap-On worth $14,169,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in shares of Snap-On by 0.4% during the first quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company’s stock valued at $10,045,000 after acquiring an additional 110 shares in the last quarter. Blair William & Co. IL increased its holdings in Snap-On by 1.8% during the 1st quarter. Blair William & Co. IL now owns 7,834 shares of the company’s stock worth $2,640,000 after purchasing an additional 141 shares during the period. Raiffeisen Bank International AG purchased a new position in Snap-On during the 1st quarter worth $277,000. ING Groep NV bought a new stake in Snap-On during the 1st quarter valued at $839,000. Finally, New Age Alpha Advisors LLC lifted its holdings in shares of Snap-On by 36.6% in the 1st quarter. New Age Alpha Advisors LLC now owns 11,389 shares of the company’s stock worth $3,838,000 after buying an additional 3,050 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Up 1.1%

Shares of Snap-On stock opened at $344.34 on Thursday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market cap of $17.91 billion, a P/E ratio of 18.06, a PEG ratio of 2.55 and a beta of 0.78. The firm’s 50 day moving average price is $339.36 and its 200-day moving average price is $328.73. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $366.83.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $4.70 earnings per share. On average, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s dividend payout ratio is presently 51.18%.

Insider Buying and Selling at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares in the company, valued at $280,261,350.60. The trade was a 2.66% decrease in their position. The SEC filing for this sale provides additional information. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNA. Tigress Financial lifted their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Robert W. Baird raised their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $365.00.

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.