Advisors Asset Management Inc. Reduces Stake in Snap-on Incorporated (NYSE:SNA)

Advisors Asset Management Inc. reduced its position in Snap-on Incorporated (NYSE:SNA) by 10.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,152 shares of the company’s stock after selling 1,355 shares during the period. Advisors Asset Management Inc.’s holdings in Snap-on were worth $3,786,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SNA. State Street Corp grew its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after buying an additional 77,486 shares during the last quarter. Geode Capital Management LLC grew its holdings in Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Nordea Investment Management AB grew its holdings in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after buying an additional 78,184 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

SNA stock opened at $330.03 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The stock’s fifty day simple moving average is $341.08 and its 200-day simple moving average is $330.75. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping 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 in the previous year, the business earned $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was 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 in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $346.40.

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.