Snap-On Incorporated $SNA Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its ownership in Snap-On by 5% during Q1, selling 46,370 shares to hold a total of 881,194 shares valued at approximately $296 million.
• Snap-On recently reported earnings of $4.72 per share for the quarter, exceeding analyst expectations of $4.61, and announced a quarterly dividend of $2.14 per share, reflecting a yearly yield of 2.6%.
• Analysts are mixed on Snap-On's stock, with one sell rating, one hold rating, and five buy ratings, leading to a consensus rating of "Moderate Buy" with an average target price of $356.17.

Dimensional Fund Advisors LP trimmed its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 881,194 shares of the company's stock after selling 46,370 shares during the period. Dimensional Fund Advisors LP owned approximately 1.69% of Snap-On worth $296,921,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Horizon Investments LLC raised its stake in shares of Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after acquiring an additional 32 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in shares of Snap-On by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after acquiring an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Snap-On by 5.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after acquiring an additional 34 shares in the last quarter. Canandaigua National Trust Co of Florida raised its stake in shares of Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after acquiring an additional 37 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Snap-On by 2.5% in the fourth quarter. Norinchukin Bank The now owns 2,066 shares of the company's stock valued at $701,000 after acquiring an additional 50 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

Shares of SNA stock traded down $1.4890 during mid-day trading on Wednesday, hitting $323.2710. 229,019 shares of the stock were exchanged, compared to its average volume of 381,331. The stock's fifty day simple moving average is $319.68 and its two-hundred day simple moving average is $324.67. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.25 and a beta of 0.76. Snap-On Incorporated has a 12-month low of $268.90 and a 12-month high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $5.07 earnings per share. On average, analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at $254,104,483.50. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,160 shares of company stock valued at $16,650,792 over the last quarter. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Four equities research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $356.17.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.