Desjardins Global Asset Management Inc. Trims Stake in Snap-on Incorporated (NYSE:SNA)

Desjardins Global Asset Management Inc. trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,123 shares of the company’s stock after selling 165 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Snap-on were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Snap-on by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock worth $1,308,079,000 after purchasing an additional 44,555 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap-on by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after purchasing an additional 26,260 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Snap-on by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock worth $309,984,000 after purchasing an additional 8,649 shares in the last quarter. Ariel Investments LLC boosted its holdings in shares of Snap-on by 1.8% in the 1st quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock worth $232,038,000 after purchasing an additional 20,485 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Snap-on by 3.6% in the 1st quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock worth $180,298,000 after purchasing an additional 30,664 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNA shares. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $306.00.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock worth $13,399,449 in the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Down 7.7 %

Shares of NYSE:SNA opened at $261.76 on Friday. Snap-on Incorporated has a 52-week low of $239.08 and a 52-week high of $298.49. The firm has a market capitalization of $13.83 billion, a P/E ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99. The stock has a 50 day moving average price of $283.65 and a 200-day moving average price of $278.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $4.42 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.22 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a $1.86 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.84%. Snap-on’s payout ratio is currently 39.68%.

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.