Stanley Laman Group Ltd. Reduces Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Stanley Laman Group Ltd. cut its holdings in Snap-on Incorporated (NYSE:SNA) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,280 shares of the company’s stock after selling 220 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Snap-on were worth $4,413,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after acquiring an additional 298,727 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. FMR LLC lifted its holdings in shares of Snap-on by 229.8% during the third quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after purchasing an additional 107,582 shares during the period. Qube Research & Technologies Ltd boosted its position in Snap-on by 388.0% in the third quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock valued at $32,560,000 after buying an additional 101,499 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Snap-on in the 3rd quarter worth approximately $23,490,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of NYSE:SNA traded down $3.43 during midday trading on Thursday, hitting $270.16. The company’s stock had a trading volume of 261,207 shares, compared to its average volume of 314,738. The company has a market cap of $14.24 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49. The business’s 50 day simple moving average is $284.19 and its 200 day simple moving average is $278.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $4.60 EPS. On average, analysts forecast that Snap-on Incorporated will post 19.04 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock worth $13,399,449 in the last quarter. Company insiders own 4.10% of the company’s stock.

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.