Fisher Asset Management LLC Reduces Holdings in Snap-On Incorporated $SNA

Fisher Asset Management LLC lowered its position in Snap-On Incorporated (NYSE:SNA) by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,531 shares of the company’s stock after selling 2,180 shares during the period. Fisher Asset Management LLC’s holdings in Snap-On were worth $14,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of Snap-On in the second quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new stake in Snap-On in the 2nd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Snap-On during the 1st quarter worth approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Up 1.1%

Shares of SNA opened at $344.34 on Thursday. The company’s 50-day moving average price is $339.36 and its 200 day moving average price is $328.73. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $366.83. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm has a market cap of $17.91 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.70 earnings per share. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $2.44 dividend. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.8%. Snap-On’s payout ratio is 51.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNA shares. Robert W. Baird lifted their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Tigress Financial boosted their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the transaction, the chief executive officer owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.90% of the stock is owned by insiders.

About Snap-On

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.