LSV Asset Management Purchases 4,010 Shares of Snap-on Incorporated (NYSE:SNA)

LSV Asset Management boosted its position in Snap-on Incorporated (NYSE:SNA) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 670,806 shares of the company’s stock after purchasing an additional 4,010 shares during the period. LSV Asset Management owned about 1.27% of Snap-on worth $193,756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Charles Schwab Investment Management Inc. boosted its position in Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after purchasing an additional 26,260 shares during the last quarter. Nordea Investment Management AB increased its position in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after buying an additional 298,727 shares during the last quarter. Northern Trust Corp raised its stake in shares of Snap-on by 4.6% in the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock valued at $212,758,000 after buying an additional 36,556 shares during the period. Earnest Partners LLC lifted its position in shares of Snap-on by 5.8% during the 3rd quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock valued at $197,705,000 after buying an additional 42,701 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after acquiring an additional 147,997 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is currently owned by insiders.

Snap-on Price Performance

NYSE:SNA traded up $4.16 during midday trading on Friday, hitting $271.03. The company had a trading volume of 262,537 shares, compared to its average volume of 341,144. The company has a market capitalization of $14.29 billion, a PE ratio of 14.22, a P/E/G ratio of 1.87 and a beta of 1.00. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49. The stock’s fifty day moving average price is $284.25 and its 200-day moving average price is $279.28.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.60 EPS. As a group, research analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.