Mountain Pacific Investment Advisers LLC Trims Stake in Snap-on Incorporated (NYSE:SNA)

Mountain Pacific Investment Advisers LLC decreased its position in shares of Snap-on Incorporated (NYSE:SNAFree Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,176 shares of the company’s stock after selling 100 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Snap-on were worth $2,436,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Snap-on in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV raised its position in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap-on during the 3rd quarter worth $39,000. Finally, Quarry LP boosted its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SNA. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $345.40.

Read Our Latest Analysis on Snap-on

Snap-on Stock Up 0.7 %

NYSE:SNA opened at $348.17 on Tuesday. The company’s 50 day moving average is $351.05 and its two-hundred day moving average is $311.39. The company has a market cap of $18.28 billion, a PE ratio of 17.92, a P/E/G ratio of 2.19 and a beta of 1.00. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.46%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Buying and Selling

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,929 shares of company stock worth $15,645,074 in the last 90 days. Insiders own 4.10% of the company’s stock.

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.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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