Franklin Resources Inc. Has $26.49 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Franklin Resources Inc. lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,726 shares of the company’s stock after purchasing an additional 4,652 shares during the period. Franklin Resources Inc. owned 0.17% of Snap-on worth $26,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SNA. Charles Schwab Investment Management Inc. increased its stake in Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after acquiring an additional 26,260 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after acquiring an additional 298,727 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Snap-on by 4.6% during the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock worth $212,758,000 after purchasing an additional 36,556 shares during the period. Earnest Partners LLC grew its stake in shares of Snap-on by 5.8% in the third quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after purchasing an additional 42,701 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after purchasing an additional 3,449 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 95,661 shares in the company, valued at approximately $26,014,052.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Anup R. Banerjee sold 12,397 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the completion of the transaction, the senior vice president now directly owns 11,420 shares in the company, valued at $3,233,344.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,115 shares of company stock valued at $14,180,274 over the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.2 %

SNA stock opened at $270.89 on Monday. The stock’s 50 day simple moving average is $281.80 and its 200 day simple moving average is $281.36. The company has a market cap of $14.28 billion, a P/E ratio of 14.21, 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. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.60 earnings per share. On average, research analysts expect that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s dividend payout ratio is presently 39.03%.

Wall Street Analyst Weigh In

Several brokerages have commented on SNA. Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Robert W. Baird decreased their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average target price of $316.75.

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.