Hamlin Capital Management LLC Sells 40,203 Shares of Snap-On Incorporated $SNA

Hamlin Capital Management LLC reduced its stake in Snap-On Incorporated (NYSE:SNA) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 475,379 shares of the company’s stock after selling 40,203 shares during the period. Snap-On makes up 3.9% of Hamlin Capital Management LLC’s portfolio, making the stock its 11th biggest position. Hamlin Capital Management LLC owned approximately 0.91% of Snap-On worth $163,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Procyon Advisors LLC boosted its stake in Snap-On by 68.6% in the 4th quarter. Procyon Advisors LLC now owns 14,423 shares of the company’s stock worth $4,970,000 after purchasing an additional 5,867 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Snap-On by 7.1% during the 4th quarter. CWA Asset Management Group LLC now owns 8,874 shares of the company’s stock valued at $3,058,000 after purchasing an additional 589 shares in the last quarter. Lake Hills Wealth Management LLC bought a new stake in Snap-On during the 4th quarter valued at about $441,000. Sagespring Wealth Partners LLC raised its holdings in Snap-On by 5.8% in the fourth quarter. Sagespring Wealth Partners LLC now owns 1,173 shares of the company’s stock worth $404,000 after buying an additional 64 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Snap-On by 1.7% in the fourth quarter. Park Avenue Securities LLC now owns 34,580 shares of the company’s stock worth $11,916,000 after buying an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-On news, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares in the company, valued at $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,650 shares of company stock worth $15,210,959 in the last quarter. 3.90% of the stock is currently owned by insiders.

Snap-On Price Performance

Shares of Snap-On stock opened at $357.03 on Friday. The stock has a market cap of $18.59 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.46 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 stock’s fifty day moving average is $373.42 and its 200 day moving average is $352.60. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business posted $4.82 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s dividend payout ratio is currently 50.86%.

Wall Street Analysts Forecast Growth

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

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.