Victory Capital Management Inc. Sells 16,105 Shares of Snap-on Incorporated (NYSE:SNA)

Victory Capital Management Inc. decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,743 shares of the company’s stock after selling 16,105 shares during the period. Victory Capital Management Inc. owned approximately 0.22% of Snap-on worth $34,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brown Advisory Inc. grew its holdings in shares of Snap-on by 0.5% during the third quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock worth $5,582,000 after purchasing an additional 114 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Snap-on by 5.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock worth $415,000 after buying an additional 80 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Snap-on by 3.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,082 shares of the company’s stock valued at $17,365,000 after buying an additional 2,476 shares in the last quarter. Mackenzie Financial Corp grew its position in Snap-on by 2.2% in the third quarter. Mackenzie Financial Corp now owns 4,271 shares of the company’s stock worth $1,085,000 after acquiring an additional 90 shares in the last quarter. Finally, Strs Ohio increased its stake in Snap-on by 6.5% in the third quarter. Strs Ohio now owns 9,831 shares of the company’s stock valued at $2,507,000 after acquiring an additional 604 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the subject of several research analyst reports. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Robert W. Baird decreased their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Trading Up 1.4 %

SNA opened at $274.74 on Tuesday. The stock has a market cap of $14.48 billion, a PE ratio of 14.41, a PEG ratio of 1.87 and a beta of 1.00. The business has a 50 day moving average of $284.32 and a 200-day moving average of $279.64. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

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

Snap-on Announces Dividend

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

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the sale, the chief financial officer now owns 95,661 shares in the company, valued at approximately $26,014,052.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the transaction, the chief financial officer now owns 95,661 shares in the company, valued at $26,014,052.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,930 shares of company stock worth $14,089,523. Corporate insiders own 4.10% of the company’s stock.

About Snap-on

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.