CIBC Private Wealth Group LLC Sells 221 Shares of Snap-on Incorporated (NYSE:SNA)

CIBC Private Wealth Group LLC trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,270 shares of the company’s stock after selling 221 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Snap-on were worth $4,470,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock valued at $2,174,233,000 after buying an additional 19,328 shares in the last quarter. State Street Corp lifted its stake in Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after acquiring an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 77,486 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 69,590 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research analyst reports. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Trading Up 0.7 %

Shares of SNA stock opened at $339.31 on Wednesday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a market capitalization of $17.79 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a 50 day moving average price of $339.60 and a two-hundred day moving average price of $334.75. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 quarter in the previous year, the company posted $4.75 earnings per share. As a group, analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s payout ratio is presently 43.90%.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on 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 sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,011 shares of company stock worth $12,116,859. Corporate insiders own 3.90% of the company’s stock.

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.