Federated Hermes Inc. Sells 13,805 Shares of Snap-On Incorporated $SNA

Federated Hermes Inc. decreased its position in Snap-On Incorporated (NYSE:SNA) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,929 shares of the company’s stock after selling 13,805 shares during the quarter. Federated Hermes Inc.’s holdings in Snap-On were worth $7,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after buying an additional 80,422 shares during the last quarter. State Street Corp boosted its holdings in shares of Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after acquiring an additional 12,184 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after acquiring an additional 36,421 shares during the last quarter. First Trust Advisors LP increased its holdings in Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after purchasing an additional 547,527 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock valued at $433,601,000 after purchasing an additional 36,964 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of several research analyst reports. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Roth Mkm reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.83.

Snap-On Price Performance

SNA opened at $366.09 on Monday. The company has a fifty day moving average price of $353.39 and a two-hundred day moving average price of $340.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $375.27. The firm has a market capitalization of $19.04 billion, a PE ratio of 19.20, a P/E/G ratio of 2.57 and a beta of 0.81.

Snap-On Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were issued 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 2.7%. The ex-dividend date was Friday, November 21st. Snap-On’s dividend payout ratio is currently 51.18%.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the transaction, the chief executive officer owned 826,364 shares in the company, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the transaction, the vice president owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This represents a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 40,036 shares of company stock worth $13,710,988. Corporate insiders own 3.90% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.