Gamco Investors INC. ET AL Lowers Stock Position in Snap-on Incorporated (NYSE:SNA)

Gamco Investors INC. ET AL reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 46.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,905 shares of the company’s stock after selling 1,665 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Snap-on were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock valued at $2,174,233,000 after buying an additional 19,328 shares in 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 valued at $613,195,000 after purchasing an additional 77,486 shares in the last quarter. Geode Capital Management LLC raised its holdings in Snap-on by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after purchasing an additional 27,700 shares during the last quarter. Nordea Investment Management AB boosted its position in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Snap-on by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 759,429 shares of the company’s stock valued at $257,811,000 after purchasing an additional 15,591 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction 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 approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Robert W. Baird lowered their price target on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday. StockNews.com cut Snap-on from a “buy” rating to a “hold” rating in a report on Friday. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on presently has an average rating of “Hold” and an average target price of $355.67.

Snap-on Trading Down 8.1 %

Shares of SNA opened at $305.16 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The stock has a fifty day moving average of $331.66 and a two-hundred day moving average of $338.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $16.00 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $4.91 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

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.