Snap-On Incorporated $SNA Position Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,280 shares of the company's stock after selling 8,989 shares during the period. Brandywine Global Investment Management LLC owned about 0.07% of Snap-On worth $12,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On during the fourth quarter worth $28,000. Montag A & Associates Inc. raised its holdings in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock worth $36,000 after acquiring an additional 28 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Snap-On by 152.4% during the fourth quarter. Manchester Capital Management LLC now owns 106 shares of the company's stock worth $37,000 after acquiring an additional 64 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Up 0.3%

SNA stock opened at $380.85 on Tuesday. Snap-On Incorporated has a twelve month low of $301.82 and a twelve month high of $400.88. The company has a market cap of $19.73 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73. The business's 50-day simple moving average is $372.97 and its 200 day simple moving average is $365.89. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $4.51 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On's dividend payout ratio (DPR) is 50.39%.

Snap-On announced that its board has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a report on Friday, February 27th. Robert W. Baird raised their target price on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Roth Mkm restated a "buy" rating and set a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Finally, Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They set an "overweight" rating and a $420.00 target price on the stock. Five investment 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $387.67.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 1,330 shares of Snap-On stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the sale, the chief financial officer directly owned 118,158 shares of the company's stock, valued at $44,813,784.66. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,439 shares of company stock worth $11,393,700. 3.80% of the stock is owned by company insiders.

Snap-On Company 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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