Snap-On Incorporated $SNA Stock Position Lifted by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership boosted its stake in Snap-On Incorporated (NYSE:SNA) by 98.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,414 shares of the company’s stock after buying an additional 74,568 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.29% of Snap-On worth $52,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP boosted its position in Snap-On by 40.7% during the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after purchasing an additional 547,527 shares during the last quarter. Norges Bank purchased a new stake in shares of Snap-On during the 2nd quarter worth about $168,010,000. Rakuten Investment Management Inc. acquired a new stake in shares of Snap-On during the 3rd quarter valued at about $61,134,000. Laurel Wealth Advisors LLC grew its stake in shares of Snap-On by 21,600.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after buying an additional 164,166 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Snap-On by 17.5% in the second quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock worth $249,073,000 after buying an additional 119,089 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Trading Down 0.4%

Shares of SNA stock opened at $384.95 on Friday. The firm has a market capitalization of $19.98 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The firm’s fifty day simple moving average is $367.79 and its 200 day simple moving average is $347.74. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned $4.82 EPS. The business’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s payout ratio is currently 50.86%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Tigress Financial lifted their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research report on Friday, February 6th. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 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. According to MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Insiders Place Their Bets

In other news, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares in the company, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares of the company’s stock, valued at $44,769,765.15. This represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,855 shares of company stock valued at $27,629,827 in the last ninety days. 3.90% of the stock is currently owned by insiders.

About Snap-On

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.