Guggenheim Capital LLC Sells 11,673 Shares of Snap-on Incorporated (NYSE:SNA)

Guggenheim Capital LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 61.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,171 shares of the company’s stock after selling 11,673 shares during the quarter. Guggenheim Capital LLC’s holdings in Snap-on were worth $2,434,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC acquired a new position in shares of Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC increased its stake in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after acquiring an additional 2,460 shares during the period. World Investment Advisors LLC acquired a new position in Snap-on in the 3rd quarter valued at $19,291,000. Avanza Fonder AB bought a new stake in shares of Snap-on during the 4th quarter valued at $1,936,000. Finally, Empirical Finance LLC increased its position in shares of Snap-on by 45.8% in the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock worth $2,005,000 after purchasing an additional 1,856 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % 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 over the last ninety days. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SNA. 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 report on Monday, March 31st. StockNews.com cut Snap-on from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird lowered their price target on Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Hold” and a consensus target price of $355.67.

Snap-on Stock Performance

Snap-on stock opened at $305.16 on Friday. The business has a 50 day moving average of $331.66 and a 200-day moving average of $338.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a market capitalization of $16.00 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. 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 $4.91 EPS. On average, equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

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

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.