Wedge Capital Management L L P NC lowered its position in Snap-on Incorporated (NYSE:SNA – Get Rating) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,624 shares of the company’s stock after selling 8,660 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Snap-on were worth $13,521,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Snap-on by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after acquiring an additional 44,555 shares in the last quarter. BlackRock Inc. grew its position in Snap-on by 0.8% in the first quarter. BlackRock Inc. now owns 4,803,393 shares of the company’s stock worth $987,000,000 after acquiring an additional 37,323 shares in the last quarter. First Trust Advisors LP grew its position in Snap-on by 14.9% in the first quarter. First Trust Advisors LP now owns 1,412,036 shares of the company’s stock worth $290,145,000 after acquiring an additional 182,700 shares in the last quarter. Ariel Investments LLC grew its position in Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after acquiring an additional 20,485 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Snap-on by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,126,555 shares of the company’s stock worth $242,076,000 after acquiring an additional 6,014 shares in the last quarter. Institutional investors own 87.31% of the company’s stock.
Insider Transactions at Snap-on
In other news, CFO Aldo John Pagliari sold 6,607 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the completion of the sale, the chief financial officer now directly owns 73,114 shares in the company, valued at $16,088,004.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Jesus Arregui sold 488 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $223.31, for a total value of $108,975.28. Following the completion of the transaction, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at $537,953.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 6,607 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the transaction, the chief financial officer now directly owns 73,114 shares of the company’s stock, valued at approximately $16,088,004.56. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Snap-on Stock Performance
NYSE SNA opened at $220.72 on Tuesday. The company has a 50-day simple moving average of $218.92 and a two-hundred day simple moving average of $213.63. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. Snap-on Incorporated has a 12-month low of $190.08 and a 12-month high of $235.36. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.70 and a beta of 1.11.
Snap-on (NYSE:SNA – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $3.76 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Snap-on Incorporated will post 16.14 EPS for the current year.
Snap-on Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were issued a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.57%. Snap-on’s dividend payout ratio is currently 35.63%.
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.
- Get a free copy of the StockNews.com research report on Snap-on (SNA)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.