Vanguard Trims Snap-on Stake to 13.2% as of Dec 29, 2023

TL;DR

**Vanguard cut its Snap-on stake to 13.2%, a minor but notable shift.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Snap-on Inc. As of December 29, 2023, Vanguard holds 7,088,103 shares of Snap-on's Common Stock, representing 13.2% of the company. This filing indicates a slight decrease in Vanguard's stake from its previous disclosure, which could signal a minor shift in their investment strategy for Snap-on.

Why It Matters

This matters to investors because Vanguard is a significant institutional holder, and changes in its position can influence market sentiment and potentially signal future performance expectations for Snap-on Inc.

Risk Assessment

Risk Level: low — The change in ownership by Vanguard is a minor adjustment and does not indicate a significant risk to Snap-on Inc. or its investors.

Analyst Insight

A smart investor would note Vanguard's slight reduction in its Snap-on stake, but recognize that a 13.2% holding still signifies strong institutional confidence. This might prompt a deeper dive into Snap-on's recent performance and Vanguard's broader sector allocations to understand the context of this minor adjustment.

Key Numbers

• 7,088,103 — Shares Beneficially Owned (Represents Vanguard's total holding in Snap-on Inc. as of December 29, 2023.)
• 13.2% — Percentage of Class (Indicates Vanguard's significant ownership stake in Snap-on Inc.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Snap-on Inc (company) — subject company whose securities are being reported
• 7,088,103 shares (dollar_amount) — total number of shares beneficially owned by Vanguard
• 13.2% (dollar_amount) — percentage of Snap-on's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, albeit slightly adjusted, stake in Snap-on Inc. over the next year. (The Vanguard Group) — high confidence, target: February 13, 2025

FAQ

From the Filing

0001104659-24-021964.txt : 20240213 0001104659-24-021964.hdr.sgml : 20240213 20240213171402 ACCESSION NUMBER: 0001104659-24-021964 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Snap-on Inc CENTRAL INDEX KEY: 0000091440 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 390622040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33180 FILM NUMBER: 24629547 BUSINESS ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 BUSINESS PHONE: 2626565200 MAIL ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 FORMER COMPANY: FORMER CONFORMED NAME: SNAP-ON Inc DATE OF NAME CHANGE: 20080918 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON INC DATE OF NAME CHANGE: 19940519 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON TOOLS CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01947-snaponinc.htm SCHEDULE 13G/A snaponinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 16)* Name of issuer:  Snap-on Inc Title of Class of Securities:  Common Stock CUSIP Number:  833034101 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  833034101 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 67,837 7.  SOLE DISPOSITIVE POWER 6,197,242 8.  SHARED DISPOSITIVE POWER 233,735 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,430,977 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.18% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Snap-on Inc Item 1(b) - Address of Issuer's Principal Executive Offices: 2801 80th Street Kenosha, WI 53143 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vang