Meritage Portfolio Management Sells 190 Shares of Snap-on Incorporated (NYSE:SNA)

Meritage Portfolio Management lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,874 shares of the company’s stock after selling 190 shares during the period. Meritage Portfolio Management’s holdings in Snap-on were worth $4,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Snap-on by 25.8% during the 3rd quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock valued at $1,133,000 after purchasing an additional 910 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in Snap-on during the 3rd quarter valued at $89,000. Oak Thistle LLC boosted its stake in Snap-on by 107.4% during the 3rd quarter. Oak Thistle LLC now owns 2,286 shares of the company’s stock valued at $583,000 after purchasing an additional 1,184 shares during the last quarter. Czech National Bank boosted its stake in Snap-on by 47.6% during the 3rd quarter. Czech National Bank now owns 9,248 shares of the company’s stock valued at $2,359,000 after purchasing an additional 2,981 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Snap-on by 85.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,689 shares of the company’s stock worth $13,439,000 after buying an additional 24,316 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SNA. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Robert W. Baird cut their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock worth $13,399,449 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA traded down $3.43 during mid-day trading on Thursday, hitting $270.16. 261,207 shares of the company traded hands, compared to its average volume of 314,738. The stock’s fifty day moving average price is $284.19 and its 200-day moving average price is $278.72. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $4.60 earnings per share. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts anticipate that Snap-on Incorporated will post 19.04 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. Snap-on’s payout ratio is 39.03%.

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.