UniSuper Management Pty Ltd Sells 426 Shares of Snap-on Incorporated (NYSE:SNA)

UniSuper Management Pty Ltd reduced its stake in Snap-on Incorporated (NYSE:SNA) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,633 shares of the company’s stock after selling 426 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Snap-on were worth $2,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SNA. Vanguard Group Inc. raised its stake in shares of Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after buying an additional 19,328 shares during the period. State Street Corp raised its stake in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after purchasing an additional 77,486 shares during the period. Geode Capital Management LLC increased its stake in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SNA. 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 increased their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % 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 Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 over the last 90 days. 3.90% of the stock is owned by insiders.

Snap-on Stock Down 1.9 %

Shares of SNA stock opened at $329.09 on Monday. The company’s fifty day simple moving average is $340.12 and its two-hundred day simple moving average is $333.92. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The stock has a market cap of $17.25 billion, a P/E ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. 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 (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 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 last year, the firm earned $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

About Snap-on

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.