Gallacher Capital Management LLC Reduces Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Gallacher Capital Management LLC reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,584 shares of the company’s stock after selling 66 shares during the quarter. Gallacher Capital Management LLC’s holdings in Snap-on were worth $877,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Aurora Investment Counsel lifted its position in Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the last quarter. Greenleaf Trust boosted its position in shares of Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC boosted its position in Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after acquiring an additional 31 shares during the period. Finally, New York Life Investment Management LLC boosted its position in Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Up 2.4 %

Shares of Snap-on 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 firm has a market cap of $17.39 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business has a fifty day simple moving average of $341.51 and a 200-day simple moving average of $329.73. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 prior year, the business posted $4.75 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $346.40.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,220 shares of company stock valued at $6,906,802 over the last ninety days. Insiders own 4.10% of the company’s stock.

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.