Snap-on Incorporated (NYSE:SNA) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,022 shares of the company’s stock after selling 241 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Snap-on were worth $5,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. Aurora Investment Counsel lifted its holdings in shares of Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after buying an additional 30 shares during the period. Greenleaf Trust raised its position in Snap-on by 3.1% in the fourth 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. lifted its holdings in Snap-on by 70.5% in 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 last quarter. WCM Investment Management LLC boosted its position in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after purchasing an additional 31 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SNA shares. Tigress Financial increased their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One research 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’s stock. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s 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 directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is owned by corporate insiders.

Snap-on Price Performance

SNA stock opened at $338.50 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The firm has a 50-day moving average of $344.18 and a two-hundred day moving average of $322.76. The firm has a market capitalization of $17.73 billion, a PE ratio of 17.36, a P/E/G ratio of 2.23 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly 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 net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm posted $4.75 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.53%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Snap-on Company 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.