Numerai GP LLC Sells 4,878 Shares of Snap-On Incorporated $SNA

Numerai GP LLC lowered its stake in Snap-On Incorporated (NYSE:SNA) by 28.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,122 shares of the company’s stock after selling 4,878 shares during the period. Numerai GP LLC’s holdings in Snap-On were worth $4,201,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNA. Vanguard Group Inc. increased its stake in shares of Snap-On by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after buying an additional 80,422 shares during the period. State Street Corp boosted its holdings in Snap-On by 0.6% in the second quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after acquiring an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after purchasing an additional 36,421 shares during the period. First Trust Advisors LP lifted its position in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after buying an additional 36,964 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Roth Mkm reissued a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 price objective on shares of Snap-On in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Activity at Snap-On

In other Snap-On news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the transaction, the senior vice president owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,650 shares of company stock valued at $15,210,959. Insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

SNA stock opened at $369.50 on Tuesday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The firm has a market cap of $19.18 billion, a PE ratio of 19.26, a P/E/G ratio of 2.54 and a beta of 0.78. The business’s 50-day moving average price is $373.16 and its two-hundred day moving average price is $351.76.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company earned $4.82 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio is currently 50.86%.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.