Fisher Asset Management LLC Increases Holdings in Snap-On Incorporated $SNA

Fisher Asset Management LLC grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,209 shares of the company’s stock after buying an additional 8,678 shares during the period. Fisher Asset Management LLC owned 0.10% of Snap-On worth $18,785,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Bahl & Gaynor Inc. lifted its position in Snap-On by 1.3% during the third quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock valued at $132,126,000 after purchasing an additional 4,932 shares during the last quarter. Ibex Wealth Advisors grew its position in Snap-On by 162.1% during the 3rd quarter. Ibex Wealth Advisors now owns 2,202 shares of the company’s stock worth $763,000 after acquiring an additional 1,362 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Snap-On in the third quarter worth $87,000. TIAA Trust National Association increased its position in shares of Snap-On by 4.6% in the third quarter. TIAA Trust National Association now owns 1,970 shares of the company’s stock valued at $683,000 after acquiring an additional 87 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Snap-On by 98.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 150,414 shares of the company’s stock valued at $52,123,000 after purchasing an additional 74,568 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SNA. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm reissued a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Robert W. Baird set a $375.00 price target on shares of Snap-On in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Tigress Financial lifted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Stock Performance

Shares of NYSE:SNA opened at $383.51 on Thursday. The firm has a fifty day simple moving average of $369.83 and a two-hundred day simple moving average of $349.10. The company has a quick ratio of 3.68, a current ratio of 4.79 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 $390.13. The stock has a market capitalization of $19.91 billion, a P/E ratio of 19.98, a PEG ratio of 2.65 and a beta of 0.78.

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

Snap-On Dividend Announcement

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

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares of the company’s stock, valued at $324,538,008.32. This represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On 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 sale, the chief financial officer owned 117,183 shares of the company’s stock, valued at approximately $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 46,429 shares of company stock valued at $17,598,523. Corporate insiders own 3.90% of the company’s stock.

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.