Snap-On Incorporated $SNA Position Trimmed by Ariel Investments LLC

Ariel Investments LLC trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 5.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,005 shares of the company’s stock after selling 1,981 shares during the quarter. Ariel Investments LLC owned 0.06% of Snap-On worth $10,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SNA. Tobam purchased a new stake in Snap-On in the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new position in shares of Snap-On in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Snap-On during the first quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

SNA opened at $343.01 on Wednesday. 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 stock’s 50 day moving average price is $339.63 and its two-hundred day moving average price is $329.37. The firm has a market capitalization of $17.84 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $365.78.

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

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a $2.44 dividend. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. Snap-On’s payout ratio is currently 51.18%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Tigress Financial boosted their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird increased their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Finally, Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Activity at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 3,091 shares of Snap-On stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $346.80, for a total value of $1,071,958.80. Following the sale, the chief financial officer directly owned 108,648 shares in the company, valued at approximately $37,679,126.40. This trade represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,257 shares of company stock valued at $11,323,424. Company insiders own 3.90% of the company’s stock.

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.