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Snap-on Incorporated (NYSE:SNA) Holdings Reduced by Vanguard Group Inc.

Snap-on logo with Consumer Discretionary background

Vanguard Group Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,430,977 shares of the company's stock after selling 28,175 shares during the quarter. Vanguard Group Inc. owned 12.20% of Snap-on worth $1,857,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company's stock valued at $249,743,000 after purchasing an additional 298,727 shares in the last quarter. Northern Trust Corp boosted its position in shares of Snap-on by 4.6% during the third quarter. Northern Trust Corp now owns 834,148 shares of the company's stock valued at $212,758,000 after purchasing an additional 36,556 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Snap-on by 5.8% during the third quarter. Earnest Partners LLC now owns 775,131 shares of the company's stock valued at $197,705,000 after purchasing an additional 42,701 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company's stock valued at $223,304,000 after purchasing an additional 3,449 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Snap-on by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company's stock valued at $218,203,000 after purchasing an additional 16,972 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.


Wall Street Analyst Weigh In

Several equities research analysts have commented on SNA shares. Roth Mkm reissued a "buy" rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Robert W. Baird decreased their price target on Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. Finally, Barrington Research restated an "outperform" rating and issued a $325.00 price target on shares of Snap-on in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of "Moderate Buy" and an average price target of $316.75.

Read Our Latest Stock Analysis on Snap-on

Snap-on Stock Performance

Snap-on stock traded up $1.08 during mid-day trading on Wednesday, reaching $269.31. 263,115 shares of the stock traded hands, compared to its average volume of 209,716. The stock has a market capitalization of $14.20 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The business's 50-day moving average is $272.93 and its 200-day moving average is $280.72.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business earned $4.60 earnings per share. Snap-on's revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, May 17th. Snap-on's dividend payout ratio is presently 39.03%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company's stock, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Aldo John Pagliari sold 5,978 shares of the company's stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now owns 97,699 shares of the company's stock, valued at $27,048,945.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the company's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company's stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,336 shares of company stock valued at $10,563,314. Company insiders own 4.10% of the company's stock.

Snap-on Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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