Castellan Group Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Castellan Group trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 13.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,764 shares of the company’s stock after selling 1,244 shares during the quarter. Castellan Group’s holdings in Snap-on were worth $2,636,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the 4th quarter valued at about $28,000. Reston Wealth Management LLC bought a new position in Snap-on during the 3rd quarter valued at about $30,000. Brooklyn Investment Group bought a new position in Snap-on during the 3rd quarter valued at about $39,000. Finally, nVerses Capital LLC bought a new position in Snap-on during the 3rd quarter valued at about $58,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 in the last quarter. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SNA shares. 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. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm upped their target price 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. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $334.54 on Thursday. The firm’s 50 day moving average price is $346.16 and its 200-day moving average price is $320.59. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $17.57 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued 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 21.71% and a return on equity of 19.20%. During the same period in the previous year, the firm posted $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 20.07 EPS for the current year.

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.