Fisher Asset Management LLC Reduces Holdings in Snap-on Incorporated (NYSE:SNA)

Fisher Asset Management LLC decreased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,484 shares of the company’s stock after selling 1,094 shares during the period. Fisher Asset Management LLC’s holdings in Snap-on were worth $6,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SNA. Avantax Planning Partners Inc. boosted its position in Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after acquiring an additional 38 shares in the last quarter. Phoenix Wealth Advisors increased its holdings in shares of Snap-on by 3.1% during the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Snap-on by 17.2% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after purchasing an additional 40 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in Snap-on by 0.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after acquiring an additional 47 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in Snap-on by 2.5% in the 4th quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock valued at $570,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Up 1.4 %

Snap-on stock opened at $274.74 on Tuesday. The stock has a market cap of $14.48 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a fifty day moving average of $284.32 and a 200 day moving average of $279.64. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.60 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

Insider Activity

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were 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 in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock valued at $14,089,523 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Company 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.