Snap-on Incorporated (NYSE:SNA) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its stake in Snap-on Incorporated (NYSE:SNA) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,874 shares of the company’s stock after selling 190 shares during the period. Meritage Portfolio Management’s holdings in Snap-on were worth $4,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNA. SG Americas Securities LLC lifted its position in Snap-on by 25.8% in the third quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock valued at $1,133,000 after acquiring an additional 910 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in Snap-on in the third quarter valued at $89,000. Oak Thistle LLC lifted its position in Snap-on by 107.4% in the third quarter. Oak Thistle LLC now owns 2,286 shares of the company’s stock valued at $583,000 after acquiring an additional 1,184 shares during the last quarter. Czech National Bank lifted its position in Snap-on by 47.6% in the third quarter. Czech National Bank now owns 9,248 shares of the company’s stock valued at $2,359,000 after acquiring an additional 2,981 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Snap-on by 85.7% in the third quarter. Handelsbanken Fonder AB now owns 52,689 shares of the company’s stock valued at $13,439,000 after acquiring an additional 24,316 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at $25,213,456.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,368 shares of company stock worth $13,399,449. 4.10% of the stock is owned by company insiders.

Snap-on Stock Performance

Shares of Snap-on stock traded down $3.43 on Thursday, reaching $270.16. 261,207 shares of the stock were exchanged, compared to its average volume of 314,738. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $284.19 and a two-hundred day moving average price of $278.72. The firm has a market capitalization of $14.24 billion, a PE ratio of 14.21, a PEG ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.60 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, research analysts anticipate that Snap-on Incorporated will post 19.04 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. Shareholders of record on Monday, May 20th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s payout ratio is currently 39.03%.

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.