Gotham Asset Management LLC Decreases Position in Snap-on Incorporated (NYSE:SNA)

Gotham Asset Management LLC lessened its holdings in Snap-on Incorporated (NYSE:SNA – Get Rating) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,938 shares of the company’s stock after selling 13,214 shares during the period. Gotham Asset Management LLC’s holdings in Snap-on were worth $4,510,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Advisory Research Inc. boosted its position in Snap-on by 20.8% in the 3rd quarter. Advisory Research Inc. now owns 72,506 shares of the company’s stock valued at $15,150,000 after buying an additional 12,465 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Snap-on by 116.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 70,202 shares of the company’s stock worth $15,227,000 after purchasing an additional 37,763 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Snap-on by 3.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,987 shares of the company’s stock worth $3,874,000 after purchasing an additional 645 shares during the last quarter. Pictet Asset Management SA lifted its position in shares of Snap-on by 3.8% during the 4th quarter. Pictet Asset Management SA now owns 31,616 shares of the company’s stock worth $6,809,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Snap-on by 114.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 15,250 shares of the company’s stock worth $3,285,000 after purchasing an additional 8,150 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Several brokerages recently commented on SNA. StockNews.com began coverage on shares of Snap-on in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Tigress Financial lifted their price objective on shares of Snap-on from $295.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Finally, Robert W. Baird lifted their target price on shares of Snap-on from $240.00 to $242.00 in a report on Friday, February 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on has an average rating of “Hold” and an average target price of $251.25.

SNA stock opened at $211.92 on Wednesday. The company has a market cap of $11.31 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.74 and a beta of 1.08. Snap-on Incorporated has a 52 week low of $197.75 and a 52 week high of $257.98. The company’s 50-day moving average price is $214.15 and its 200 day moving average price is $213.15. The company has a current ratio of 3.16, a quick ratio of 2.32 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNA – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The company reported $4.00 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.32. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Snap-on had a net margin of 19.54% and a return on equity of 20.34%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.50 earnings per share. On average, equities research analysts expect that Snap-on Incorporated will post 15.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 19th. Snap-on’s dividend payout ratio is currently 36.81%.

About Snap-on (Get Rating)

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.

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