Guggenheim Capital LLC Sells 11,673 Shares of Snap-on Incorporated (NYSE:SNA)

Guggenheim Capital LLC cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 61.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,171 shares of the company’s stock after selling 11,673 shares during the period. Guggenheim Capital LLC’s holdings in Snap-on were worth $2,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Snap-on during the 4th quarter worth approximately $148,839,000. Norges Bank bought a new position in shares of Snap-on during the fourth quarter worth $145,342,000. Proficio Capital Partners LLC acquired a new position in shares of Snap-on in the 4th quarter valued at $57,738,000. Nordea Investment Management AB increased its position in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares in the last quarter. Finally, Amundi raised its stake in Snap-on by 137.0% during the 4th quarter. Amundi now owns 201,207 shares of the company’s stock worth $68,039,000 after buying an additional 116,319 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $305.16 on Friday. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm has a fifty day simple moving average of $331.66 and a 200 day simple moving average of $338.00. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the company earned $4.91 earnings per share. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com lowered Snap-on from a “buy” rating to a “hold” rating in a research report on Friday. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Robert W. Baird reduced their price target on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Thursday. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Snap-on has an average rating of “Hold” and an average price target of $355.67.

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.