American Century Companies Inc. Sells 55,889 Shares of Snap-On Incorporated $SNA

American Century Companies Inc. decreased its position in Snap-On Incorporated (NYSE:SNA) by 49.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,467 shares of the company’s stock after selling 55,889 shares during the quarter. American Century Companies Inc. owned 0.11% of Snap-On worth $19,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SNA. Tobam acquired a new position in Snap-On in the second quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC grew its position in Snap-On by 97.9% during the 2nd 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. SJS Investment Consulting Inc. grew its position in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Quent Capital LLC acquired a new stake in Snap-On during the 3rd quarter valued at $36,000. Finally, CoreFirst Bank & Trust bought a new position in Snap-On in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Snap-On stock opened at $373.83 on Tuesday. 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 Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company has a market cap of $19.41 billion, a PE ratio of 19.48, a PEG ratio of 2.57 and a beta of 0.78. The company’s 50-day moving average is $371.23 and its two-hundred day moving average is $350.41.

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

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $2.44 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s payout ratio is 50.86%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the sale, the chief executive officer directly owned 846,562 shares in the company, valued at $324,538,008.32. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer directly owned 117,183 shares in the company, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,429 shares of company stock worth $17,598,523. Company 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.