Dimensional Fund Advisors LP Sells 25,053 Shares of Snap-On Incorporated $SNA

Key Points

• Dimensional Fund Advisors LP trimmed its stake in Snap‑On by 2.9%, selling 25,053 shares and leaving it with 851,964 shares (about a 1.64% stake) valued at roughly $295.2 million.
• Company insiders have been net sellers recently: the CFO sold 7,043 shares and the CEO sold 23,229 shares, with insiders offloading 46,429 shares (~$17.6 million) over the last three months; insiders now own about 3.9% of the stock.
• Snap‑On announced a quarterly dividend of $2.44 (annualized $9.76, yield 2.6%, ex-dividend Feb 24) and reported quarterly EPS of $4.94 (beat vs. $4.86) while the company has a market cap of about $19.3 billion and a P/E around 19.4.

Dimensional Fund Advisors LP lowered its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 851,964 shares of the company's stock after selling 25,053 shares during the period. Dimensional Fund Advisors LP owned approximately 1.64% of Snap-On worth $295,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Generali Asset Management SPA SGR purchased a new position in Snap-On in the third quarter valued at $2,068,000. Norges Bank purchased a new stake in shares of Snap-On during the 2nd quarter worth about $168,010,000. DNB Asset Management AS grew its position in shares of Snap-On by 65.5% during the 3rd 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 period. First Citizens Bank & Trust Co. grew its position in shares of Snap-On by 3.6% during the 3rd 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 period. Finally, Vanguard Group Inc. increased its stake in shares of Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company's stock valued at $2,021,262,000 after purchasing an additional 80,422 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Down 2.6%

NYSE:SNA opened at $372.16 on Friday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13. The stock's fifty day moving average is $370.77 and its two-hundred day moving average is $349.67. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating 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 return on equity of 17.34% and a net margin of 21.44%.The company's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.82 earnings per share. Research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On's payout ratio is currently 50.86%.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $8,905,069.44. Following the sale, the chief executive officer directly owned 846,562 shares in the company, valued at approximately $324,538,008.32. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 46,429 shares of company stock valued at $17,598,523 over the last three months. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNA. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research note on Friday, February 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, January 21st. Tigress Financial boosted their price objective on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Roth Mkm restated a "buy" rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research note 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 company. According to MarketBeat.com, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus 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.

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