Snap-On Incorporated $SNA Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,170 shares of the company’s stock after selling 7,974 shares during the quarter. Snap-On makes up approximately 1.7% of Dearborn Partners LLC’s holdings, making the stock its 13th biggest holding. Dearborn Partners LLC’s holdings in Snap-On were worth $34,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNA. Norges Bank bought a new position in Snap-On in the 4th quarter worth about $210,814,000. Victory Capital Management Inc. lifted its stake in Snap-On by 346.0% during the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after purchasing an additional 216,813 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Snap-On during the fourth quarter valued at approximately $69,751,000. UBS Group AG lifted its stake in Snap-On by 30.7% during the fourth quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after purchasing an additional 144,926 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Snap-On by 17.5% during the second quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after purchasing an additional 119,089 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’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 transaction, the chief executive officer directly owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 firm’s stock in a transaction on Thursday, May 14th. The shares were 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 owned 119,488 shares in the company, valued at $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,439 shares of company stock worth $11,393,700 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Performance

Shares of SNA opened at $379.67 on Friday. The company’s fifty day moving average is $372.58 and its 200-day moving average is $365.28. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88. The firm has a market cap of $19.67 billion, a price-to-earnings ratio of 19.60, 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.

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

Snap-On declared that its board has initiated a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Snap-On Dividend Announcement

The company 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 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 (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Barclays initiated coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price target for the company. Robert W. Baird upped their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Roth Mkm restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Finally, Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $387.67.

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.