Snap-on Incorporated (NYSE:SNA) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 32,030 shares of the company’s stock after selling 2,310 shares during the period. Brandywine Global Investment Management LLC’s holdings in Snap-on were worth $10,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SNA. Cerity Partners LLC lifted its position in shares of Snap-on by 103.5% during the 3rd quarter. Cerity Partners LLC now owns 8,156 shares of the company’s stock valued at $2,363,000 after buying an additional 4,149 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Snap-on by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company’s stock worth $12,742,000 after buying an additional 273 shares during the last quarter. FMR LLC lifted its holdings in Snap-on by 16.3% in the 3rd quarter. FMR LLC now owns 57,543 shares of the company’s stock valued at $16,671,000 after purchasing an additional 8,073 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Snap-on by 14.8% during the third quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock worth $675,000 after acquiring an additional 300 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Snap-on by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 8,738 shares of the company’s stock valued at $2,532,000 after acquiring an additional 297 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

NYSE SNA opened at $337.25 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $17.68 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.21 and a beta of 0.99. The stock has a 50-day moving average of $339.90 and a two-hundred day moving average of $334.34. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the company earned $4.75 earnings per share. As a group, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research reports. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and a consensus price target of $355.33.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,011 shares of company stock worth $12,116,859. Company insiders own 3.90% of the company’s stock.

About Snap-on

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.