Snap-on Incorporated (NYSE:SNA) Shares Sold by Kuhn & Co Investment Counsel

Kuhn & Co Investment Counsel reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 26.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,531 shares of the company’s stock after selling 540 shares during the quarter. Kuhn & Co Investment Counsel’s holdings in Snap-on were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Benjamin Edwards Inc. increased its position in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after buying an additional 152,428 shares during the period. International Assets Investment Management LLC increased its position in Snap-on by 34,381.0% in 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 during the period. Nordea Investment Management AB increased its position in Snap-on by 12.8% in 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 period. Caisse DE Depot ET Placement DU Quebec increased its position in Snap-on by 45.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after buying an additional 80,421 shares during the period. Finally, Pacer Advisors Inc. increased its position in Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Trading Down 0.2 %

NYSE:SNA opened at $339.12 on Friday. The business has a fifty day moving average of $345.36 and a 200-day moving average of $321.38. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock has a market cap 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 debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $4.75 earnings per share. Equities analysts predict that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Announces Dividend

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

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the 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. This trade represents a 2.75 % 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 90 days. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNA. Tigress Financial increased 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 reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Finally, Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Snap-on has a consensus rating of “Hold” and a consensus 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.