Boston Trust Walden Corp Sells 3,565 Shares of Snap-On Incorporated $SNA

Key Points

• Boston Trust Walden Corp trimmed its Snap‑On stake by 1.6%, selling 3,565 shares and leaving 217,753 shares (about 0.42% of the company) valued at roughly $75.04 million.
• Quarterly results: Snap‑On reported EPS of $4.94 (beat by $0.08) on $1.23B revenue (slightly below expectations) and recently paid a $2.44 quarterly dividend (annualized $9.76) for a ~2.5% yield.
• Insider and analyst activity: Insiders sold about 39,650 shares (~$15.2M) in the last three months, while analysts hold a "Moderate Buy" consensus with an average price target of $373.80 and some firms boosting targets up to $445.

Boston Trust Walden Corp cut its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,753 shares of the company's stock after selling 3,565 shares during the period. Boston Trust Walden Corp owned 0.42% of Snap-On worth $75,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. Generali Asset Management SPA SGR purchased a new stake in Snap-On during the third quarter valued at approximately $2,068,000. DNB Asset Management AS lifted its position in Snap-On by 65.5% during the third quarter. DNB Asset Management AS now owns 23,702 shares of the company's stock valued at $8,213,000 after acquiring an additional 9,377 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in Snap-On by 1.3% during the third quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company's stock valued at $132,126,000 after acquiring an additional 4,932 shares during the last quarter. Nordea Investment Management AB lifted its position in Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock valued at $454,206,000 after acquiring an additional 51,486 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Snap-On by 3.6% during the third quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company's stock valued at $13,910,000 after acquiring an additional 1,404 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Down 0.7%

NYSE SNA opened at $384.16 on Wednesday. The company has a fifty day simple moving average of $374.45 and a two-hundred day simple moving average of $358.07. The stock has a market cap of $20.00 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.67 and a beta of 0.77. Snap-On Incorporated has a 12-month low of $294.92 and a 12-month high of $390.13. 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 (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $4.82 earnings per share. On average, analysts forecast that Snap-On Incorporated will post 19.86 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On's dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling at Snap-On

In related news, VP June C. Lemerand sold 1,378 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares of the company's stock, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,650 shares of company stock worth $15,210,959. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SNA shares. Tigress Financial increased their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Robert W. Baird raised their price target on shares of Snap-On from $375.00 to $380.00 and gave the stock a "neutral" rating in a report on Tuesday. Roth Mkm reaffirmed a "buy" rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $373.80.

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.

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