Weatherly Asset Management L. P. Reduces Stock Position in Snap-on Incorporated (NYSE:SNA)

Weatherly Asset Management L. P. cut its stake in Snap-on Incorporated (NYSE:SNA) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 635 shares of the company’s stock after selling 112 shares during the period. Weatherly Asset Management L. P.’s holdings in Snap-on were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. acquired a new position in Snap-on in the fourth quarter valued at approximately $86,000. Savant Capital LLC lifted its holdings in Snap-on by 13.4% in the fourth quarter. Savant Capital LLC now owns 1,748 shares of the company’s stock valued at $593,000 after acquiring an additional 206 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Snap-on by 11.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,349 shares of the company’s stock valued at $1,137,000 after acquiring an additional 336 shares during the last quarter. Northeast Investment Management acquired a new position in Snap-on in the fourth quarter valued at approximately $212,000. Finally, WCM Investment Management LLC lifted its holdings in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SNA shares. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. 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 note on Tuesday, October 22nd. Finally, Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Up 0.6 %

Shares of NYSE SNA opened at $340.38 on Tuesday. The stock has a market cap of $17.87 billion, a P/E ratio of 17.46, a PEG ratio of 2.13 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The business’s fifty day simple moving average is $347.29 and its 200-day simple moving average is $320.10.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the firm earned $4.75 EPS. As a group, equities analysts predict that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

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.