Hamlin Capital Management LLC Reduces Position in Snap-on Incorporated (NYSE:SNA)

Hamlin Capital Management LLC reduced its stake in Snap-on Incorporated (NYSE:SNA) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 495,242 shares of the company’s stock after selling 4,164 shares during the period. Snap-on makes up 4.2% of Hamlin Capital Management LLC’s portfolio, making the stock its 10th biggest position. Hamlin Capital Management LLC owned approximately 0.94% of Snap-on worth $168,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC boosted its stake in Snap-on by 12.8% during the 4th quarter. Ballentine Partners LLC now owns 1,275 shares of the company’s stock valued at $433,000 after purchasing an additional 145 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in shares of Snap-on by 4.2% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 1,791 shares of the company’s stock valued at $608,000 after buying an additional 73 shares during the period. UMB Bank n.a. lifted its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Trueblood Wealth Management LLC boosted its stake in shares of Snap-on by 1.8% during the 4th quarter. Trueblood Wealth Management LLC now owns 3,667 shares of the company’s stock worth $1,245,000 after acquiring an additional 65 shares during the last quarter. Finally, Joule Financial LLC bought a new position in Snap-on in the 4th quarter worth $202,000. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,929 shares of company stock worth $15,645,074 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNA shares. Robert W. Baird upped their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barrington Research boosted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $345.40.

Snap-on Trading Up 0.7 %

Shares of SNA opened at $348.17 on Tuesday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a 50-day moving average of $351.05 and a 200 day moving average of $311.39. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.46%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is currently 44.06%.

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.