Earnest Partners LLC decreased its position in Snap-on Incorporated (NYSE:SNA) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 988,389 shares of the company’s stock after selling 32,109 shares during the quarter. Snap-on accounts for about 1.6% of Earnest Partners LLC’s holdings, making the stock its 7th biggest holding. Earnest Partners LLC owned 1.73% of Snap-on worth $172,276,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Snap-on by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock worth $488,847,000 after purchasing an additional 270,905 shares in the last quarter. Schroder Investment Management Group raised its holdings in Snap-on by 13.0% during the third quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after purchasing an additional 148,037 shares in the last quarter. Bessemer Group Inc. raised its holdings in Snap-on by 7.9% during the fourth quarter. Bessemer Group Inc. now owns 933,862 shares of the company’s stock worth $162,774,000 after purchasing an additional 68,432 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Snap-on by 14.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 792,225 shares of the company’s stock worth $138,086,000 after purchasing an additional 97,613 shares in the last quarter. Finally, Ariel Investments LLC raised its holdings in Snap-on by 1.7% during the fourth quarter. Ariel Investments LLC now owns 776,792 shares of the company’s stock worth $135,395,000 after purchasing an additional 12,758 shares in the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Anup R. Banerjee sold 2,091 shares of Snap-on stock in a transaction on Monday, February 12th. The shares were sold at an average price of $160.11, for a total value of $334,790.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 5,743 shares of Snap-on stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $159.93, for a total transaction of $918,477.99. Following the completion of the transaction, the senior vice president now owns 51,840 shares in the company, valued at $8,290,771.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,355 shares of company stock worth $24,058,960. 3.70% of the stock is currently owned by insiders.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 8th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.03. The business had revenue of $974.60 million for the quarter, compared to analyst estimates of $940.50 million. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. research analysts predict that Snap-on Incorporated will post 11.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a $0.82 dividend. The ex-dividend date is Thursday, March 1st. This represents a $3.28 dividend on an annualized basis and a yield of 2.14%. Snap-on’s dividend payout ratio (DPR) is 34.45%.
A number of analysts have weighed in on SNA shares. B. Riley reissued a “buy” rating and set a $205.00 price objective on shares of Snap-on in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research report on Wednesday, December 20th. Barrington Research restated a “buy” rating on shares of Snap-on in a research report on Thursday. Finally, Robert W. Baird restated a “buy” rating and set a $220.00 target price (up from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $192.00.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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