Aviva PLC Sells 595 Shares of Snap-on Incorporated (NYSE:SNA)

Aviva PLC lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,652 shares of the company’s stock after selling 595 shares during the quarter. Aviva PLC’s holdings in Snap-on were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mizuho Bank Ltd. bought a new position in Snap-on during the fourth quarter valued at approximately $61,000. Resona Asset Management Co. Ltd. bought a new position in shares of Snap-on in the fourth quarter valued at approximately $6,044,000. Centric Wealth Management raised its position in shares of Snap-on by 0.4% in the fourth quarter. Centric Wealth Management now owns 8,440 shares of the company’s stock valued at $2,865,000 after purchasing an additional 36 shares during the period. Geode Capital Management LLC raised its position in shares of Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock valued at $556,022,000 after purchasing an additional 27,700 shares during the period. Finally, HighPoint Advisor Group LLC raised its position in shares of Snap-on by 16.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 909 shares of the company’s stock valued at $307,000 after purchasing an additional 128 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction 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 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 sale was disclosed in a document filed 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 on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Snap-on Trading Up 6.6 %

Shares of SNA stock opened at $329.77 on Thursday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The firm’s fifty day simple moving average is $334.56 and its 200 day simple moving average is $336.19. The firm has a market capitalization of $17.29 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. 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 (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share 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 in the prior year, the company earned $4.75 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.33.

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.