Hamlin Capital Management LLC Sells 40,203 Shares of Snap-On Incorporated $SNA

Hamlin Capital Management LLC decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 475,379 shares of the company’s stock after selling 40,203 shares during the period. Snap-On accounts for about 3.9% of Hamlin Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Hamlin Capital Management LLC’s holdings in Snap-On were worth $163,816,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNA. GoalVest Advisory LLC bought a new position in Snap-On in the 4th quarter worth approximately $28,000. Vermillion & White Wealth Management Group LLC grew its holdings in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after buying an additional 94 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Snap-On in the third quarter worth $36,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Snap-On in the second quarter worth $37,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares of the company’s stock, valued at $324,538,008.32. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the sale, the chief financial officer owned 117,183 shares of the company’s stock, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 39,650 shares of company stock worth $15,210,959. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research note on Friday, February 6th. Roth Mkm reissued a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Tigress Financial raised their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Stock Down 1.0%

Shares of NYSE:SNA opened at $357.03 on Friday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The business has a 50 day simple moving average of $373.42 and a two-hundred day simple moving average of $352.60. The firm has a market capitalization of $18.59 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $4.82 EPS. Snap-On’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a $2.44 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio is presently 50.86%.

Snap-On Company 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.