Russell Investments Group Ltd. Decreases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Russell Investments Group Ltd. reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 13.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,535 shares of the company’s stock after selling 11,562 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of Snap-on worth $22,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. BKM Wealth Management LLC bought a new position in shares of Snap-on in the 4th quarter valued at about $33,000. Peoples Bank KS purchased a new position in shares of Snap-on in the 3rd quarter worth approximately $40,000. Exchange Traded Concepts LLC bought a new position in shares of Snap-on during the 4th quarter valued at approximately $43,000. Itau Unibanco Holding S.A. purchased a new stake in Snap-on during the 3rd quarter valued at $49,000. Finally, Orion Capital Management LLC bought a new stake in Snap-on in the third quarter worth $49,000. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Monday, April 15th. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Price Performance

Shares of SNA stock opened at $267.74 on Thursday. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The stock has a fifty day simple moving average of $284.33 and a two-hundred day simple moving average of $279.13. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.85 and a beta of 1.00. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned $4.60 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,930 shares of company stock valued at $14,089,523. 4.10% of the stock is currently owned by insiders.

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.