Snap-On Incorporated (NYSE:SNA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 53.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,126 shares of the company's stock after selling 73,147 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Snap-On worth $21,274,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. Vanguard Group Inc. raised its stake in shares of Snap-On by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock valued at $2,174,233,000 after purchasing an additional 19,328 shares in the last quarter. First Trust Advisors LP raised its position in Snap-On by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after acquiring an additional 411,317 shares in the last quarter. Geode Capital Management LLC raised its position in Snap-On by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after acquiring an additional 27,700 shares in the last quarter. Earnest Partners LLC raised its holdings in Snap-On by 1.9% during the 4th quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after buying an additional 18,209 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Snap-On by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after buying an additional 50,187 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SNA shares. Wall Street Zen raised 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 set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday. Robert W. Baird set a $347.00 target price on Snap-On and gave the stock a "neutral" rating in a report on Friday. Finally, Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Snap-On Stock Performance

SNA opened at $328.56 on Tuesday. The business has a fifty day simple moving average of $318.89 and a 200 day simple moving average of $327.69. The company has a market capitalization of $17.14 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. Snap-On Incorporated has a 1 year low of $266.56 and a 1 year high of $373.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

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

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,815 shares of company stock valued at $9,482,532. Corporate insiders own 3.90% of the company's stock.

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.

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