Snap-on Incorporated (NYSE:SNA) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its position in Snap-on Incorporated (NYSE:SNA) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,282 shares of the company’s stock after selling 167 shares during the period. Financial Advocates Investment Management’s holdings in Snap-on were worth $1,114,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its stake in 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. Reston Wealth Management LLC acquired a new position in shares of Snap-on during the 3rd quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in Snap-on during the 3rd quarter worth $39,000. nVerses Capital LLC acquired a new stake in Snap-on in the 3rd quarter valued at $58,000. Finally, Private Trust Co. NA raised its position in Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Snap-on stock opened at $338.05 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.75 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The stock has a 50 day moving average of $348.45 and a 200-day moving average of $318.53.

Snap-on (NYSE:SNA) last announced its quarterly earnings data 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 net margin of 22.13% and a return on equity of 19.44%. During the same quarter last year, the company posted $4.75 earnings per share. On average, analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 over the last three months. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

SNA has been the subject of several analyst reports. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 price objective on shares of Snap-on in a research report on Monday, February 3rd. Roth Mkm lifted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America lifted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $347.40.

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.