Wedge Capital Management L L P NC Has $10.61 Million Stock Position in Snap-On Incorporated $SNA

Wedge Capital Management L L P NC lowered its stake in Snap-On Incorporated (NYSE:SNA) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,795 shares of the company’s stock after selling 2,243 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of Snap-On worth $10,612,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GoalVest Advisory LLC bought a new position in Snap-On in the 4th quarter valued at about $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the period. Quent Capital LLC bought a new stake in shares of Snap-On during the 3rd quarter worth approximately $36,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-On during the 2nd quarter worth approximately $37,000. Finally, CYBER HORNET ETFs LLC bought a new position in Snap-On in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares in the company, valued at approximately $1,128,991.41. The trade was a 32.11% 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 23,229 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the transaction, the chief executive officer directly owned 846,562 shares of the company’s stock, valued at $324,538,008.32. This represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,650 shares of company stock worth $15,210,959 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Performance

Shares of Snap-On stock opened at $358.21 on Friday. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The firm has a market capitalization of $18.65 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.48 and a beta of 0.78. The company’s 50 day moving average price is $373.59 and its two-hundred day moving average price is $353.89.

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, topping the consensus estimate of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company 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 business earned $4.82 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s dividend payout ratio is presently 50.86%.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Tigress Financial boosted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On 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.