Weaver C. Barksdale & Associates Inc. Reduces Stake in Snap-on Incorporated (NYSE:SNA)

Weaver C. Barksdale & Associates Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 20.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,365 shares of the company’s stock after selling 1,851 shares during the quarter. Snap-on comprises 2.1% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 12th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Snap-on were worth $2,127,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SNA. Norges Bank purchased a new position in shares of Snap-on in the 4th quarter valued at about $145,665,000. Nordea Investment Management AB increased its holdings 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 last quarter. Envestnet Asset Management Inc. grew its stake in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after buying an additional 147,997 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Snap-on by 1,416.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after buying an additional 137,920 shares during the last quarter. Finally, FMR LLC grew its stake in Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after buying an additional 107,582 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In other news, VP Richard Thomas Miller sold 704 shares of the firm’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 completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Richard Thomas Miller sold 704 shares of the firm’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 completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders sold 49,930 shares of company stock valued at $14,089,523 in the last three months. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Snap-on Stock Performance

Snap-on stock traded down $0.87 during mid-day trading on Thursday, reaching $266.87. 339,432 shares of the company were exchanged, compared to its average volume of 314,210. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The firm’s 50-day simple moving average is $284.33 and its two-hundred day simple moving average is $279.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The firm has a market cap of $14.07 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

Snap-on (NYSE:SNA) last posted its quarterly earnings data 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. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.60 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a dividend yield of 2.79%. Snap-on’s dividend payout ratio is currently 39.03%.

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.