Snap-on Incorporated (NYSE:SNA) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in Snap-on Incorporated (NYSE:SNA) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,454 shares of the company’s stock after selling 163 shares during the quarter. Van ECK Associates Corp’s holdings in Snap-on were worth $3,209,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Aurora Investment Counsel lifted its stake in shares of 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 buying an additional 30 shares during the period. Greenleaf Trust grew its stake in Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after purchasing an additional 30 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. WCM Investment Management LLC raised its stake in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Snap-on by 3.1% during the third 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 period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated 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 sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,643 shares of company stock valued at $13,580,191. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.3 %

Snap-on stock opened at $341.91 on Thursday. 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 stock’s 50 day simple moving average is $344.52 and its two-hundred day simple moving average is $322.65. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The firm has a market cap of $17.91 billion, a PE ratio of 17.53, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released 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 quarter last year, the firm earned $4.75 EPS. Analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.50%. Snap-on’s dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SNA shares. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. 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 company’s stock. According to data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.