Castellan Group Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Castellan Group reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,764 shares of the company’s stock after selling 1,244 shares during the quarter. Castellan Group’s holdings in Snap-on were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on during the 4th quarter valued at approximately $28,000. Reston Wealth Management LLC purchased a new position in shares of Snap-on in the third quarter valued at $30,000. Brooklyn Investment Group purchased a new position in shares of Snap-on in the third quarter valued at $39,000. Finally, nVerses Capital LLC purchased a new position in shares of Snap-on in the third quarter valued at $58,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction on 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 directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 over the last quarter. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA opened at $334.54 on Thursday. The business’s 50-day moving average is $346.16 and its two-hundred day moving average is $320.59. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. The firm has a market capitalization of $17.57 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.13 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 (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. Research analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNA. 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 report on Friday, October 18th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm lifted their price objective on shares of 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 lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $345.40.

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.