Snap-on Incorporated (NYSE:SNA) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,117 shares of the company’s stock after selling 7,854 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Snap-on worth $22,800,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SNA. MetLife Investment Management LLC grew its holdings in Snap-on by 22.4% during the 1st quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock worth $2,985,000 after acquiring an additional 2,657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Snap-on by 6.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock worth $1,469,000 after buying an additional 407 shares during the last quarter. Sei Investments Co. lifted its position in shares of Snap-on by 11.3% in the 1st quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock worth $25,727,000 after buying an additional 12,720 shares during the last quarter. Aviva PLC lifted its position in shares of Snap-on by 12.3% in the 1st quarter. Aviva PLC now owns 33,102 shares of the company’s stock worth $6,802,000 after buying an additional 3,636 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of Snap-on in the 1st quarter worth about $302,000. 83.90% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Down 0.2 %

Snap-on stock opened at $275.27 on Tuesday. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.86 and a beta of 1.06. The company has a current ratio of 3.67, a quick ratio of 2.62 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $260.08 and its two-hundred day moving average price is $266.57. Snap-on Incorporated has a 52 week low of $220.21 and a 52 week high of $297.26.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 19th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.07. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Snap-on had a net margin of 21.21% and a return on equity of 21.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 EPS. On average, analysts expect that Snap-on Incorporated will post 18.62 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be given a $1.86 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.62. This represents a $7.44 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, November 20th. Snap-on’s dividend payout ratio (DPR) is 35.18%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNA. Tigress Financial raised their price target on shares of Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Monday, July 24th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Thursday, October 19th. Finally, StockNews.com began coverage on shares of Snap-on in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $298.17.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 4,842 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the sale, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total value of $1,269,233.46. Following the completion of the sale, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,078 shares of Snap-on stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $258.16, for a total transaction of $5,699,656.48. Following the completion of the sale, the chief executive officer now owns 697,506 shares of the company’s stock, valued at $180,068,148.96. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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.