Seizert Capital Partners LLC Sells 14,664 Shares of Snap-on Incorporated (NYSE:SNA)

Seizert Capital Partners LLC reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,669 shares of the company’s stock after selling 14,664 shares during the quarter. Seizert Capital Partners LLC’s holdings in Snap-on were worth $4,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. Proficio Capital Partners LLC acquired a new position in shares of Snap-on during the fourth quarter valued at $57,738,000. Benjamin Edwards Inc. raised its holdings in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the last quarter. Nordea Investment Management AB raised its holdings in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in Snap-on by 706.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock valued at $38,474,000 after purchasing an additional 99,276 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Snap-on by 45.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock valued at $74,586,000 after purchasing an additional 80,421 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNA. 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. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,003 shares of company stock worth $14,636,064. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE SNA opened at $329.53 on Wednesday. The firm has a market cap of $17.26 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s 50 day moving average is $343.03 and its 200-day moving average is $326.70. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $4.75 EPS. Equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

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.