Chevy Chase Trust Holdings LLC Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Chevy Chase Trust Holdings LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 1.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,066 shares of the company’s stock after selling 1,096 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Snap-on were worth $19,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of 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. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth approximately $28,000. Reston Wealth Management LLC purchased a new stake in Snap-on in the third quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in Snap-on in the third quarter worth approximately $39,000. Finally, nVerses Capital LLC purchased a new stake in Snap-on in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $339.12 on Friday. The stock has a fifty day moving average of $345.36 and a 200 day moving average of $321.38. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.13 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly 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 return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business earned $4.75 earnings per share. As a group, research analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of analyst reports. Roth Mkm increased their price objective on 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 increased their price objective on 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 reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling

In other Snap-on news, 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 value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The stock was 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 of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,643 shares of company stock valued at $13,580,191 over the last quarter. 4.10% of the stock is owned by company insiders.

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.