Brandywine Global Investment Management LLC Sells 8,989 Shares of Snap-On Incorporated $SNA

Brandywine Global Investment Management LLC lowered its position in Snap-On Incorporated (NYSE:SNA) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,280 shares of the company’s stock after selling 8,989 shares during the period. Brandywine Global Investment Management LLC’s holdings in Snap-On were worth $12,502,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNA. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On in the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On in the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. raised its stake in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after acquiring an additional 28 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of Snap-On by 152.4% in the fourth quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock valued at $37,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of SNA stock opened at $380.85 on Tuesday. Snap-On Incorporated has a 12-month low of $301.82 and a 12-month high of $400.88. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $372.97 and a 200-day moving average of $365.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. Snap-On’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.51 EPS. On average, equities research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On announced that its Board of Directors has approved a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On’s dividend payout ratio is presently 50.39%.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 30,439 shares of company stock valued at $11,393,700. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays assumed coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Finally, Tigress Financial upped their price objective on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $387.67.

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.