Charles Schwab Investment Management Inc. Decreases Position in Snap-on Incorporated (NYSE:SNA)

Charles Schwab Investment Management Inc. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,275,792 shares of the company’s stock after selling 413 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.42% of Snap-on worth $368,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SNA. Avantax Planning Partners Inc. raised its stake in Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after purchasing an additional 38 shares during the period. Phoenix Wealth Advisors grew its stake in Snap-on by 3.1% during the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Snap-on by 17.2% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after acquiring an additional 40 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in Snap-on by 0.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after purchasing an additional 47 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Snap-on by 2.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock valued at $570,000 after purchasing an additional 48 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 a number of analyst reports. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Finally, Robert W. Baird lowered their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Stock Performance

Snap-on stock traded down $0.70 during mid-day trading on Wednesday, hitting $276.16. The company had a trading volume of 70,494 shares, compared to its average volume of 308,277. 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 company has a market capitalization of $14.56 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.87 and a beta of 1.00. The company’s fifty day moving average is $284.38 and its 200-day moving average is $279.81. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 earnings per share. Equities research analysts predict that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.69%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Buying and Selling

In other 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 transaction of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is owned by corporate insiders.

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.