American International Group Inc. Has $4.08 Million Position in Snap-on Incorporated (NYSE:SNA)

American International Group Inc. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,119 shares of the company’s stock after selling 92 shares during the quarter. American International Group Inc.’s holdings in Snap-on were worth $4,078,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in shares of Snap-on during the fourth quarter worth $33,000. Exchange Traded Concepts LLC bought a new position in shares of Snap-on during the fourth quarter worth about $43,000. Fortitude Family Office LLC acquired a new stake in Snap-on during the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Snap-on during the 4th quarter worth approximately $53,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Snap-on in the 4th quarter valued at $55,000. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares in the company, valued at $27,048,945.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,336 shares of company stock valued at $10,563,314. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $266.75 on Monday. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The firm has a 50-day moving average of $272.01 and a 200-day moving average of $280.55. The company has a market cap of $14.06 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.86 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. The ex-dividend date was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.79%. Snap-on’s payout ratio is 39.03%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Wednesday, May 22nd. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $316.75.

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.