GHP Investment Advisors Inc. reduced its stake in Snap-on Incorporated (NYSE:SNA – Free Report) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,246 shares of the company’s stock after selling 41 shares during the quarter. GHP Investment Advisors Inc. owned 0.05% of Snap-on worth $9,249,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Aurora Investment Counsel lifted its stake in Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares in the last quarter. Greenleaf Trust lifted its stake in Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after acquiring an additional 30 shares in the last quarter. UMB Bank n.a. boosted 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 acquiring an additional 31 shares during the period. Lake Street Advisors Group LLC grew its position in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after acquiring an additional 32 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SNA shares. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Snap-on in a research note on Monday. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Finally, Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $347.40.
Insiders Place Their Bets
In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is owned by corporate insiders.
Snap-on Price Performance
Snap-on stock opened at $357.61 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $349.05 and a 200-day simple moving average of $318.38. The stock has a market cap of $18.78 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.
Snap-on (NYSE:SNA – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same quarter in the prior year, the business posted $4.75 earnings per share. Equities analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.
Snap-on Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.39%. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is currently 44.06%.
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.
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