American Century Companies Inc. Sells 32,261 Shares of Snap-on Incorporated (NYSE:SNA)

Posted by Defense World Staff on Aug 30th, 2023

American Century Companies Inc. reduced its position in Snap-on Incorporated (NYSE:SNA – Free Report) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,738 shares of the company’s stock after selling 32,261 shares during the period. American Century Companies Inc. owned approximately 0.23% of Snap-on worth $30,032,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SNA. Parkside Financial Bank & Trust grew its holdings in shares of Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 47 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Snap-on in the first quarter worth approximately $29,000. Spire Wealth Management lifted its holdings in shares of Snap-on by 50.0% in the first quarter. Spire Wealth Management now owns 144 shares of the company’s stock valued at $36,000 after purchasing an additional 48 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Snap-on by 183.6% during the first quarter. Private Trust Co. NA now owns 156 shares of the company’s stock valued at $39,000 after buying an additional 101 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Snap-on during the first quarter worth $40,000. Institutional investors and hedge funds own 83.90% of the company’s stock.

Insider Activity

In related news, SVP Timothy L. Chambers sold 4,598 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $289.07, for a total value of $1,329,143.86. Following the transaction, the senior vice president now directly owns 13,276 shares of the company’s stock, valued at approximately $3,837,693.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Timothy L. Chambers sold 4,598 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $289.07, for a total transaction of $1,329,143.86. Following the completion of the transaction, the senior vice president now directly owns 13,276 shares of the company’s stock, valued at $3,837,693.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Chambers sold 4,680 shares of Snap-on stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $289.29, for a total transaction of $1,353,877.20. Following the completion of the sale, the senior vice president now directly owns 12,998 shares of the company’s stock, valued at approximately $3,760,191.42. The disclosure for this sale can be found here. Insiders have sold a total of 57,244 shares of company stock worth $15,473,850 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on SNA shares. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Monday, August 14th. StockNews.com started coverage on Snap-on in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. 888 reissued a “reiterates” rating on shares of Snap-on in a report on Wednesday, May 24th. CL King started coverage on Snap-on in a report on Friday, July 7th. They set a “neutral” rating on the stock. Finally, Roth Capital raised Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.83.

Check Out Our Latest Analysis on SNA

Snap-on Stock Performance

Shares of SNA opened at $266.89 on Wednesday. The company has a quick ratio of 2.58, a current ratio of 3.67 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.12 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.81 and a beta of 1.11. The business’s 50 day moving average price is $276.63 and its 200-day moving average price is $260.04. Snap-on Incorporated has a 52 week low of $200.75 and a 52 week high of $297.26.

Snap-on (NYSE:SNA – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The company reported $4.89 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.31. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-on had a return on equity of 21.38% and a net margin of 21.06%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $4.27 earnings per share. Equities research analysts anticipate that Snap-on Incorporated will post 18.45 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $6.48 annualized dividend and a dividend yield of 2.43%. Snap-on’s dividend payout ratio is presently 35.90%.

Snap-on Profile

(Free Report)

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.