Snap-on Incorporated (NYSE:SNA) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 24.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,250 shares of the company’s stock after selling 400 shares during the quarter. Radnor Capital Management LLC’s holdings in Snap-on were worth $424,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after acquiring an additional 280,997 shares in the last quarter. Millennium Management LLC grew its position in shares of Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after purchasing an additional 152,631 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares during the last quarter. International Assets Investment Management LLC lifted its position in Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after buying an additional 129,960 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Price Performance

SNA stock opened at $345.41 on Thursday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The firm has a market capitalization of $18.14 billion, a P/E ratio of 17.78, a P/E/G ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The business’s 50-day moving average is $351.70 and its two-hundred day moving average is $309.11.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,679 shares of company stock worth $16,222,574. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SNA. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America lifted their target price 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. Roth Mkm increased their price target 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. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $345.40.

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.