Russell Investments Group Ltd. Sells 19,353 Shares of Snap-On Incorporated $SNA

Russell Investments Group Ltd. trimmed its position in Snap-On Incorporated (NYSE:SNA) by 27.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,361 shares of the company’s stock after selling 19,353 shares during the period. Russell Investments Group Ltd.’s holdings in Snap-On were worth $15,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tobam bought a new stake in shares of Snap-On in the second quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new stake in Snap-On in the 2nd quarter worth about $30,000. Ransom Advisory Ltd bought a new stake in Snap-On in the 1st quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares in the last quarter. Finally, Harbor Asset Planning Inc. bought a new position in shares of Snap-On during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Tigress Financial boosted their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Roth Capital reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Stock Down 0.1%

NYSE SNA opened at $340.19 on Monday. The business has a fifty day moving average price of $339.23 and a two-hundred day moving average price of $328.48. The stock has a market capitalization of $17.69 billion, a PE ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $371.98. 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 issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $4.70 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Increases Dividend

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

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

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.