Snap-On Incorporated $SNA Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC cut its Snap‑On stake by 84.7% in Q4, selling 14,491 shares and ending the period with 2,618 shares valued at $919,000.
• Wall Street has a consensus rating of "Moderate Buy" (avg. target $372.80; four Buys, one Hold, one Sell), while Snap‑On trades near $383.64 with a market cap of about $19.97 billion and a PE around 20.
• Snap‑On beat EPS expectations ($4.94 vs. $4.86) but slightly missed revenue, pays a $2.44 quarterly dividend (≈2.5% yield), and insiders have sold roughly 39,650 shares recently (≈$15.2M).

Allspring Global Investments Holdings LLC lessened its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 84.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,618 shares of the company's stock after selling 14,491 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Snap-On were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company's stock valued at $2,983,000 after purchasing an additional 1,185 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company's stock valued at $1,492,000 after purchasing an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company's stock valued at $144,000 after purchasing an additional 233 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company's stock worth $545,000 after acquiring an additional 434 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Snap-On by 28.3% during the second quarter. Federated Hermes Inc. now owns 36,734 shares of the company's stock worth $11,431,000 after acquiring an additional 8,106 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNA. Wall Street Zen cut Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, January 21st. Roth Mkm reissued a "buy" rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Finally, Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Snap-On Trading Up 0.8%

NYSE:SNA opened at $383.64 on Friday. The firm has a market cap of $19.97 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.77. The stock has a fifty day moving average price of $373.59 and a 200 day moving average price of $355.89. Snap-On Incorporated has a 12-month low of $289.81 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 released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.Snap-On's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $4.82 earnings per share. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

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

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer directly owned 117,183 shares of the company's stock, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP June C. Lemerand sold 1,378 shares of Snap-On stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president directly 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,650 shares of company stock valued at $15,210,959. 3.80% of the stock is currently owned by company insiders.

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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