Legacy Financial Advisors Inc. Sells 676 Shares of Snap-on Incorporated (NYSE:SNA)

Legacy Financial Advisors Inc. trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,895 shares of the company’s stock after selling 676 shares during the period. Legacy Financial Advisors Inc.’s holdings in Snap-on were worth $2,001,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the fourth quarter valued at approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on in the fourth quarter worth $40,000. Finally, TCTC Holdings LLC increased its position in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $329.77 on Thursday. The business’s 50-day moving average price is $334.56 and its 200 day moving average price is $336.19. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market capitalization of $17.29 billion, a PE 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 earnings results on Thursday, February 6th. The company reported $4.82 EPS 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 previous year, the company earned $4.75 EPS. On average, research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently declared 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 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Tigress Financial increased their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $355.33.

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.