UniSuper Management Pty Ltd Reduces Position in Snap-on Incorporated (NYSE:SNA)

UniSuper Management Pty Ltd decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,633 shares of the company’s stock after selling 426 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Snap-on were worth $2,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Snap-on by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock valued at $2,174,233,000 after acquiring an additional 19,328 shares during the last quarter. State Street Corp grew its holdings in shares of Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares during the period. Geode Capital Management LLC lifted its holdings in Snap-on by 4.5% during 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 in the last quarter. Finally, Nordea Investment Management AB boosted its position in 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 buying an additional 127,859 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Hold” and a consensus price target of $346.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This 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 36,011 shares of company stock valued at $12,116,859 in the last 90 days. Insiders own 3.90% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $329.09 on Monday. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. 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 company’s 50 day moving average is $340.12 and its 200 day moving average is $333.92.

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 period last year, the business posted $4.75 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 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.