Snap-on Incorporated (NYSE:SNA) is Weaver C. Barksdale & Associates Inc.’s 9th Largest Position

Weaver C. Barksdale & Associates Inc. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,728 shares of the company’s stock after selling 168 shares during the quarter. Snap-on accounts for approximately 2.2% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 9th largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Snap-on were worth $2,285,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $148,839,000. Proficio Capital Partners LLC purchased a new stake in Snap-on during the fourth quarter valued at approximately $57,738,000. Benjamin Edwards Inc. lifted its position in Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares in the last quarter. Nordea Investment Management AB raised its stake in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after acquiring an additional 127,859 shares during the period. Finally, Amundi increased its stake in Snap-on by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock worth $68,039,000 after buying an additional 116,319 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $335.99 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The business has a 50-day simple moving average of $340.87 and a 200-day simple moving average of $332.70. The company has a market cap of $17.61 billion, a PE ratio of 17.23, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the company posted $4.75 EPS. On average, equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the business’s 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 completion of the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.