Steward Partners Investment Advisory LLC Trims Stock Position in Snap-on Incorporated (NYSE:SNA)

Steward Partners Investment Advisory LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,901 shares of the company’s stock after selling 65 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Snap-on were worth $645,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SNA. UMB Bank n.a. grew its stake in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in Snap-on during the third quarter valued at approximately $39,000. Finally, Private Trust Co. NA grew its stake in Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock worth $63,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Snap-on Price Performance

SNA stock opened at $335.51 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The stock has a market cap of $17.58 billion, a PE ratio of 17.21, a P/E/G ratio of 2.21 and a beta of 0.99. The firm has a 50 day simple moving average of $342.21 and a two-hundred day simple moving average of $328.77.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $4.75 earnings per share. On average, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, 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. In the last 90 days, insiders sold 20,220 shares of company stock valued at $6,906,802. Corporate insiders own 4.10% of the company’s stock.

Snap-on 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.