Crossmark Global Holdings Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,210 shares of the company’s stock after selling 1,019 shares during the quarter. Crossmark Global Holdings Inc. owned 0.10% of Snap-on worth $9,014,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in shares of Snap-on in the fourth quarter valued at approximately $24,308,000. Cincinnati Financial Corp raised its stake in Snap-on by 97.9% during the 3rd quarter. Cincinnati Financial Corp now owns 190,000 shares of the company’s stock valued at $29,743,000 after purchasing an additional 94,000 shares during the last quarter. First Trust Advisors LP raised its stake in Snap-on by 16.5% during the 3rd quarter. First Trust Advisors LP now owns 390,617 shares of the company’s stock valued at $61,147,000 after purchasing an additional 55,257 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Snap-on in the 3rd quarter valued at $7,858,000. Finally, Rheos Capital Works Inc. bought a new stake in Snap-on in the 4th quarter valued at $5,777,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Aldo John Pagliari sold 4,243 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $171.32, for a total transaction of $726,910.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 21,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $170.63, for a total transaction of $3,583,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,990 shares of company stock valued at $8,775,927 in the last 90 days. 3.90% of the stock is owned by corporate insiders.
SNA opened at $155.34 on Friday. The stock’s 50 day simple moving average is $164.94 and its 200-day simple moving average is $159.89. The company has a current ratio of 2.51, a quick ratio of 1.71 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.53 billion, a PE ratio of 12.51, a P/E/G ratio of 1.46 and a beta of 1.24. Snap-on Incorporated has a 1 year low of $143.12 and a 1 year high of $174.00.
Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $3.08 EPS for the quarter, hitting the consensus estimate of $3.08. The firm had revenue of $955.20 million during the quarter, compared to analysts’ expectations of $965.58 million. Snap-on had a return on equity of 20.62% and a net margin of 18.59%. Snap-on’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $3.03 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 12.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.78%. Snap-on’s dividend payout ratio (DPR) is presently 35.24%.
Several research firms have issued reports on SNA. Robert W. Baird decreased their price target on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Northcoast Research reaffirmed a “neutral” rating on shares of Snap-on in a research report on Friday, February 7th. Barrington Research reiterated a “buy” rating and issued a $185.00 target price on shares of Snap-on in a research note on Friday, February 7th. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research note on Friday, October 25th. Finally, ValuEngine raised Snap-on from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $171.60.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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