Stanley Laman Group Ltd. Reduces Position in Snap-on Incorporated (NYSE:SNA)

Stanley Laman Group Ltd. reduced its stake in Snap-on Incorporated (NYSE:SNA) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,686 shares of the company’s stock after selling 2,395 shares during the period. Stanley Laman Group Ltd.’s holdings in Snap-on were worth $4,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNA. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the fourth quarter worth approximately $28,000. Reston Wealth Management LLC bought a new stake in Snap-on during the third quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in Snap-on during the third quarter worth approximately $39,000. Finally, nVerses Capital LLC bought a new stake in Snap-on during the third quarter worth approximately $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNA. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $345.40.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,643 shares of company stock valued at $13,580,191. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock opened at $334.54 on Thursday. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The firm’s 50-day moving average price is $346.16 and its two-hundred day moving average price is $320.59.

Snap-on (NYSE:SNA) last announced its quarterly earnings data 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 period last year, the company earned $4.75 EPS. On average, equities analysts predict that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Profile

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.