Burney Co. Cuts Stock Position in Snap-On Incorporated $SNA

Burney Co. lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 14.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,984 shares of the company’s stock after selling 3,976 shares during the quarter. Burney Co.’s holdings in Snap-On were worth $7,965,000 as of its most recent filing with the SEC.

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

Snap-On Stock Performance

Shares of Snap-On stock opened at $354.35 on Friday. The firm has a market capitalization of $18.43 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $365.78. The firm’s 50 day moving average is $342.61 and its two-hundred day moving average is $331.91.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $4.70 earnings per share. Snap-On’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts forecast 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 was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given 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 was Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a dividend 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 analyst reports. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. 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 report on Friday, October 17th. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Finally, Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Five equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Transactions at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president directly owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the transaction, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is owned by corporate insiders.

Snap-On Company Profile

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.