AustralianSuper Pty Ltd Lowers Position in Snap-on Incorporated (NYSE:SNA)

AustralianSuper Pty Ltd lessened its position in Snap-on Incorporated (NYSE:SNA) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,880 shares of the company’s stock after selling 1,384 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Snap-on were worth $8,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. increased its position in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after buying an additional 152,428 shares in the last quarter. International Assets Investment Management LLC increased its position in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after buying an additional 129,960 shares in the last quarter. Nordea Investment Management AB increased its position in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Snap-on by 45.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock valued at $74,586,000 after buying an additional 80,421 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after buying an additional 78,184 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Snap-on presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Shares of SNA opened at $339.12 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The firm has a market capitalization of $17.81 billion, a P/E ratio of 17.39, a PEG ratio of 2.13 and a beta of 0.99. The business has a fifty day moving average of $345.36 and a 200 day moving average of $321.13.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the company earned $4.75 earnings per share. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,643 shares of company stock valued at $13,580,191. Company insiders own 4.10% 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.