Envestnet Portfolio Solutions Inc. Has $22.10 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,095 shares of the company’s stock after purchasing an additional 166 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.12% of Snap-on worth $22,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SNA. State Street Corp boosted its stake in Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after buying an additional 77,486 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after acquiring an additional 69,590 shares during the period. Nordea Investment Management AB boosted its position in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after acquiring an additional 78,184 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Up 2.4 %

Shares of SNA stock opened at $331.93 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The firm has a 50-day moving average price of $341.51 and a 200 day moving average price of $329.73.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the company posted $4.75 EPS. Research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is presently 43.90%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm’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 transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,220 shares of company stock worth $6,906,802. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on SNA. Tigress Financial raised 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. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $346.40.

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.