Snap-on Incorporated (NYSE:SNA) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in Snap-on Incorporated (NYSE:SNA) by 13.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,731 shares of the company’s stock after selling 6,587 shares during the period. Wedge Capital Management L L P NC owned approximately 0.08% of Snap-on worth $11,765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNA. Royal London Asset Management Ltd. grew its holdings in shares of Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after buying an additional 2,542 shares in the last quarter. Caprock Group LLC acquired a new position in Snap-on in the 4th quarter valued at approximately $1,203,000. Vision Capital Management Inc. bought a new stake in shares of Snap-on in the 4th quarter valued at approximately $2,377,000. Cerity Partners LLC grew its position in Snap-on by 275.7% during the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after acquiring an additional 5,825 shares during the last quarter. Finally, Raymond James & Associates grew its position in Snap-on by 3.9% during the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after acquiring an additional 13,225 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNA. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Barrington Research reiterated 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 decreased their target price 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. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.75.

Insider Buying and Selling at Snap-on

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

Snap-on Trading Up 0.5 %

Shares of NYSE:SNA traded up $1.32 during midday trading on Tuesday, reaching $269.88. The company had a trading volume of 25,661 shares, compared to its average volume of 312,102. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. 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 company has a fifty day simple moving average of $283.80 and a two-hundred day simple moving average of $278.68.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $4.60 EPS. The company’s revenue was down .1% on a year-over-year basis. Research analysts predict that Snap-on Incorporated will post 19.24 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.76%. Snap-on’s payout ratio is 39.03%.

Snap-on 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.