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

Weaver C. Barksdale & Associates Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 20.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,365 shares of the company’s stock after selling 1,851 shares during the period. Snap-on comprises approximately 2.1% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 12th largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Snap-on were worth $2,127,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SNA. BKM Wealth Management LLC purchased a new stake in shares of Snap-on during the fourth quarter worth $33,000. Peoples Bank KS purchased a new stake in shares of Snap-on during the third quarter worth $40,000. Exchange Traded Concepts LLC purchased a new stake in shares of Snap-on during the fourth quarter worth $43,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Snap-on during the third quarter worth $49,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Snap-on during the third quarter worth $49,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $0.87 during midday trading on Thursday, hitting $266.87. The company’s stock had a trading volume of 339,432 shares, compared to its average volume of 314,210. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.85 and a beta of 1.00. The stock’s 50 day simple moving average is $284.33 and its 200 day simple moving average is $279.13. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $4.60 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Dividend Announcement

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 given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total value of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at $26,014,052.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at $26,014,052.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Anup R. Banerjee sold 12,397 shares of Snap-on stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $283.13, for a total value of $3,509,962.61. Following the sale, the senior vice president now directly owns 11,420 shares in the company, valued at $3,233,344.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,930 shares of company stock valued at $14,089,523. 4.10% of the stock is owned by insiders.

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.