Brandywine Global Investment Management LLC Sells 2,310 Shares of Snap-on Incorporated (NYSE:SNA)

Brandywine Global Investment Management LLC lessened its position in shares of Snap-on Incorporated (NYSE:SNA) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,030 shares of the company’s stock after selling 2,310 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Snap-on worth $10,874,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock valued at $2,174,233,000 after buying an additional 19,328 shares during the period. State Street Corp lifted its holdings in shares of Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC raised its position in Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Snap-on by 12.8% during the fourth 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 during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SNA shares. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Trading Up 2.4 %

NYSE SNA opened at $337.25 on Tuesday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company’s 50-day simple moving average is $339.90 and its two-hundred day simple moving average is $334.34.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $4.75 EPS. Equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. Company 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.