Johnson Investment Counsel Inc. Trims Stake in Snap-on Incorporated (NYSE:SNA)

Johnson Investment Counsel Inc. reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,222 shares of the company’s stock after selling 621 shares during the period. Johnson Investment Counsel Inc.’s holdings in Snap-on were worth $754,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNA. Sigma Planning Corp grew its holdings in Snap-on by 25.3% in the third quarter. Sigma Planning Corp now owns 3,501 shares of the company’s stock valued at $1,014,000 after purchasing an additional 706 shares during the period. WCM Investment Management LLC acquired a new stake in Snap-on in the third quarter valued at approximately $201,000. Victory Capital Management Inc. grew its holdings in Snap-on by 21.5% in the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock valued at $45,999,000 after purchasing an additional 28,049 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Snap-on by 1.4% in the third quarter. Oppenheimer & Co. Inc. now owns 19,410 shares of the company’s stock valued at $5,623,000 after purchasing an additional 272 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Snap-on by 6.9% in the third quarter. Main Street Financial Solutions LLC now owns 924 shares of the company’s stock valued at $268,000 after purchasing an additional 60 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on Monday, February 10th. The stock was 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 trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,220 shares of company stock valued at $6,906,802. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $324.87 on Thursday. 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 business’s 50 day moving average price is $342.13 and its 200-day moving average price is $329.13. The firm has a market capitalization of $17.02 billion, a PE ratio of 16.66, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned $4.75 EPS. As a group, equities research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed 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 2.63%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Analysts Set New Price Targets

Several analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $346.40.

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.