Fisher Asset Management LLC Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

Fisher Asset Management LLC raised its holdings in Snap-on Incorporated (NYSE:SNA) by 88.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,944 shares of the company’s stock after buying an additional 23,504 shares during the quarter. Fisher Asset Management LLC owned approximately 0.10% of Snap-on worth $16,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after buying an additional 56,266 shares during the period. Geode Capital Management LLC grew its holdings in Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the period. Nordea Investment Management AB lifted its stake in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

Snap-on stock opened at $333.45 on Tuesday. The stock’s 50 day moving average price is $343.25 and its 200 day moving average price is $326.29. The firm has a market capitalization of $17.47 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 last year, the firm posted $4.75 EPS. As a group, sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

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

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value 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 $273,126,134.54. This represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock valued at $15,906,074 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Snap-on Company 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.