Distillate Capital Partners LLC Has $13.99 Million Stake in Snap-On Incorporated $SNA

Distillate Capital Partners LLC cut its stake in shares of Snap-On Incorporated (NYSE:SNA) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,955 shares of the company’s stock after selling 2,012 shares during the quarter. Distillate Capital Partners LLC owned approximately 0.09% of Snap-On worth $13,989,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $609,292,000 after acquiring an additional 36,421 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Snap-On during the 2nd quarter worth approximately $434,938,000. Nordea Investment Management AB lifted its position in shares of Snap-On by 3.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock worth $376,775,000 after purchasing an additional 43,430 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Snap-On by 5.4% in the 1st quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock worth $283,668,000 after purchasing an additional 43,467 shares during the period. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Tigress Financial increased their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Roth Capital reissued a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

Insider Transactions at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the sale, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. The trade was a 59.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

Shares of SNA opened at $338.59 on Tuesday. Snap-On Incorporated has a one year low of $289.81 and a one year high of $371.12. The company has a market cap of $17.61 billion, a PE ratio of 17.76, a P/E/G ratio of 2.33 and a beta of 0.81. The stock has a 50-day moving average of $339.25 and a 200-day moving average of $328.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.70 EPS. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is 51.18%.

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.