LSV Asset Management Lowers Stock Holdings in Snap-On Incorporated $SNA

LSV Asset Management reduced its position in Snap-On Incorporated (NYSE:SNA) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,073 shares of the company’s stock after selling 94,930 shares during the quarter. LSV Asset Management owned approximately 0.60% of Snap-On worth $107,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNA. Cibc World Market Inc. boosted its stake in shares of Snap-On by 4.4% in the third quarter. Cibc World Market Inc. now owns 3,349 shares of the company’s stock valued at $1,161,000 after purchasing an additional 142 shares during the period. Caprock Group LLC acquired a new stake in Snap-On during the 3rd quarter worth approximately $638,000. SVB Wealth LLC boosted its position in Snap-On by 2.3% in the 3rd quarter. SVB Wealth LLC now owns 7,887 shares of the company’s stock valued at $2,733,000 after buying an additional 178 shares during the period. Versor Investments LP acquired a new position in shares of Snap-On in the third quarter worth $312,000. Finally, Midwest Trust Co increased its position in shares of Snap-On by 1,351.7% during the third quarter. Midwest Trust Co now owns 21,979 shares of the company’s stock worth $7,616,000 after acquiring an additional 20,465 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price target (up previously from $385.00) on shares of Snap-On in a research report on Tuesday. Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Tigress Financial upped their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $370.67.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the sale, the chief executive officer owned 826,364 shares in the company, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,036 shares of company stock worth $16,792,028 over the last three months. Company insiders own 3.90% of the company’s stock.

Snap-On Trading Down 1.1%

SNA opened at $378.65 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13. The company has a market cap of $19.69 billion, a P/E ratio of 19.73, a PEG ratio of 2.63 and a beta of 0.81. The business’s 50-day simple moving average is $359.68 and its 200-day simple moving average is $342.93.

Snap-On (NYSE:SNA) last announced its quarterly 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. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company posted $4.82 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

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.