Sei Investments Co. Increases Stake in Snap-on Incorporated (NYSE:SNA)

Sei Investments Co. grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,400 shares of the company’s stock after buying an additional 23,603 shares during the quarter. Sei Investments Co.’s holdings in Snap-on were worth $122,691,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter worth $28,000. Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter worth $39,000. Finally, TCTC Holdings LLC raised its position in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNA shares. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Performance

NYSE:SNA opened at $327.59 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $340.99 and a two-hundred day moving average price of $331.41. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market capitalization of $17.17 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the company posted $4.75 earnings per share. As a group, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.61%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

About Snap-on

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.