Mutual Advisors LLC Lowers Position in Snap-on Incorporated (NYSE:SNA)

Mutual Advisors LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,667 shares of the company’s stock after selling 405 shares during the quarter. Mutual Advisors LLC’s holdings in Snap-on were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its position in Snap-on by 78.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock worth $530,000 after purchasing an additional 889 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Snap-on by 60.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,096 shares of the company’s stock valued at $2,639,000 after acquiring an additional 3,822 shares in the last quarter. AXA S.A. increased its position in shares of Snap-on by 60.8% during the second quarter. AXA S.A. now owns 46,062 shares of the company’s stock valued at $12,040,000 after acquiring an additional 17,419 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Snap-on by 873.5% during the second quarter. APG Asset Management N.V. now owns 21,398 shares of the company’s stock worth $5,219,000 after acquiring an additional 19,200 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in Snap-on by 20.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 164,247 shares of the company’s stock worth $42,933,000 after purchasing an additional 27,913 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,929 shares of company stock valued at $15,645,074 over the last three months. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA opened at $350.33 on Friday. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.21 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $350.47 and a 200-day moving average price of $313.68. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.44%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNA. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Finally, Barrington Research upped their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $345.40.

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.