Royal London Asset Management Ltd. Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Royal London Asset Management Ltd. boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,571 shares of the company’s stock after acquiring an additional 2,324 shares during the period. Royal London Asset Management Ltd.’s holdings in Snap-on were worth $8,681,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Snap-on during the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the 4th quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in shares of Snap-on in the 3rd quarter worth $39,000. Finally, TCTC Holdings LLC raised its holdings in shares of Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Down 0.7 %

Shares of SNA opened at $327.59 on Monday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.17 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company’s 50-day moving average price is $340.99 and its 200 day moving average price is $331.78. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the company posted $4.75 EPS. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. Snap-on’s payout ratio is presently 43.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNA. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average price target of $346.40.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

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.