Snap-on Incorporated (NYSE:SNA) Stock Position Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 88.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,944 shares of the company’s stock after purchasing an additional 23,504 shares during the quarter. Fisher Asset Management LLC’s holdings in Snap-on were worth $16,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Direct Indexing L.P. lifted its holdings in shares of Snap-on by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock valued at $391,000 after buying an additional 140 shares during the period. Pinnacle Associates Ltd. acquired a new stake in shares of Snap-on in the third quarter valued at $214,000. Janney Montgomery Scott LLC lifted its holdings in shares of Snap-on by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock valued at $6,693,000 after buying an additional 455 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Snap-on by 11.0% in the third quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock valued at $2,786,000 after buying an additional 953 shares during the period. Finally, National Pension Service lifted its holdings in shares of Snap-on by 4.3% in the third quarter. National Pension Service now owns 113,516 shares of the company’s stock valued at $32,887,000 after buying an additional 4,710 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,503 shares of company stock valued at $15,906,074 over the last three months. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 2.3 %

Shares of NYSE SNA opened at $333.45 on Tuesday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $343.25 and a 200-day simple moving average of $326.29.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business earned $4.75 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio is 43.90%.

Snap-on Profile

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.