Barclays PLC Reduces Stock Holdings in Snap-On Incorporated $SNA

Barclays PLC reduced its position in shares of Snap-On Incorporated (NYSE:SNA) by 29.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,088 shares of the company’s stock after selling 50,637 shares during the quarter. Barclays PLC owned 0.23% of Snap-On worth $41,961,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after buying an additional 80,422 shares during the period. State Street Corp boosted its stake in shares of Snap-On by 0.6% during the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after acquiring an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after acquiring an additional 36,421 shares during the last quarter. First Trust Advisors LP grew its position in shares of Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after acquiring an additional 547,527 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after purchasing an additional 36,964 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Trading Down 0.9%

Shares of Snap-On stock opened at $370.28 on Wednesday. The company has a market capitalization of $19.22 billion, a P/E ratio of 19.30, a P/E/G ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The company has a fifty day moving average of $371.63 and a 200 day moving average of $350.67. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a $2.44 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On’s payout ratio is currently 50.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNA. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Tigress Financial boosted their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Roth Mkm restated a “buy” rating and issued 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 downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.33.

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 that occurred 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 completion of the transaction, the chief executive officer directly owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 46,429 shares of company stock valued at $17,598,523. 3.90% of the stock is owned by company 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.