Snap-On Incorporated $SNA Shares Sold by Assetmark Inc.

Assetmark Inc. lowered its stake in Snap-On Incorporated (NYSE:SNA) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,998 shares of the company’s stock after selling 16,473 shares during the period. Assetmark Inc. owned approximately 0.26% of Snap-On worth $47,474,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SNA. First Trust Advisors LP grew its holdings in Snap-On by 40.7% in 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 acquired a new position in shares of Snap-On in the 2nd quarter valued at about $168,010,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Snap-On in the 2nd quarter valued at $56,595,000. Rakuten Investment Management Inc. purchased a new stake in shares of Snap-On during the third quarter valued at approximately $61,134,000. Finally, Laurel Wealth Advisors LLC grew its stake in Snap-On by 21,600.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after purchasing an additional 164,166 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the transaction, the chief financial officer owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,036 shares of company stock valued at $16,792,028. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 1.5%

Shares of SNA opened at $384.23 on Friday. The firm has a market cap of $19.98 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81. The firm’s 50-day simple moving average is $360.42 and its 200 day simple moving average is $343.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm earned $4.82 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors 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 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is presently 50.86%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday. Tigress Financial boosted their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.67.

Snap-On 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.