Sigma Investment Counselors Inc. Decreases Stock Position in Snap-on Incorporated (NYSE:SNA)

Sigma Investment Counselors Inc. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 17,652 shares of the company’s stock after selling 209 shares during the period. Sigma Investment Counselors Inc.’s holdings in Snap-on were worth $5,992,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNA. 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 purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Snap-on during the fourth quarter valued at about $28,000. Reston Wealth Management LLC acquired a new position in shares of Snap-on in the third quarter worth about $30,000. Brooklyn Investment Group acquired a new position in shares of Snap-on in the 3rd quarter valued at approximately $39,000. Finally, Asset Planning Inc bought a new stake in shares of Snap-on in the 4th quarter worth about $68,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Price Performance

Shares of NYSE SNA opened at $335.87 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $343.79 and a two-hundred day moving average of $323.56. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its 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 quarter last year, the firm earned $4.75 earnings per share. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business 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 dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on 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 owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,503 shares of company stock valued at $15,906,074 over the last three months. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One equities research 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. According to data from MarketBeat.com, Snap-on has an average rating of “Hold” and an average price target of $345.40.

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.