Private Advisor Group LLC Decreases Position in Snap-on Incorporated (NYSE:SNA)

Private Advisor Group LLC reduced its stake in Snap-on Incorporated (NYSE:SNA) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,519 shares of the company’s stock after selling 130 shares during the period. Private Advisor Group LLC’s holdings in Snap-on were worth $3,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on in the 4th quarter worth approximately $28,000. Reston Wealth Management LLC purchased a new position in shares of Snap-on during the third quarter valued at approximately $30,000. Brooklyn Investment Group bought a new position in shares of Snap-on during the third quarter valued at approximately $39,000. Finally, Private Trust Co. NA lifted its stake in Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock worth $63,000 after acquiring an additional 60 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Trading Down 0.8 %

SNA opened at $335.87 on Monday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The stock has a market cap of $17.60 billion, a PE ratio of 17.22, a PEG ratio of 2.21 and a beta of 0.99. The business has a 50 day moving average of $343.79 and a 200-day moving average of $323.95.

Snap-on (NYSE:SNA) last announced its quarterly earnings data 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 quarter last year, the company earned $4.75 earnings per share. Equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is currently owned by company insiders.

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.