Snap-on Incorporated (NYSE:SNA) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,806,278 shares of the company’s stock after purchasing an additional 77,486 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.44% of Snap-on worth $613,195,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC purchased a new stake in Snap-on during the fourth quarter valued at about $512,000. Vest Financial LLC raised its holdings in shares of Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after acquiring an additional 2,460 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after acquiring an additional 67 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares during the period. Finally, World Investment Advisors LLC purchased a new position in Snap-on during the 3rd quarter worth approximately $19,291,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,003 shares of company stock worth $14,636,064. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 1.4 %

Shares of NYSE:SNA opened at $329.53 on Wednesday. The firm has a fifty day moving average of $343.03 and a two-hundred day moving average of $326.70. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The firm has a market capitalization of $17.26 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $4.75 earnings per share. On average, equities analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. Snap-on’s payout ratio is 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.