Snap-On Incorporated $SNA Shares Sold by Burney Co.

Burney Co. lowered its stake in shares of Snap-On Incorporated (NYSE:SNA) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,984 shares of the company’s stock after selling 3,976 shares during the quarter. Burney Co.’s holdings in Snap-On were worth $7,965,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the sale, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. This represents a 5.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,036 shares of company stock valued at $13,710,988 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Price Performance

Shares of NYSE:SNA opened at $354.35 on Friday. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The business’s 50 day simple moving average is $342.61 and its 200-day simple moving average is $331.91. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $365.78.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $4.70 EPS. As a group, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st were paid a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio is presently 51.18%.

Wall Street Analysts Forecast Growth

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

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.