Xponance Inc. Decreases Position in Snap-on Incorporated (NYSE:SNA)

Xponance Inc. decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,033 shares of the company’s stock after selling 50 shares during the period. Xponance Inc.’s holdings in Snap-on were worth $2,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after acquiring an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after purchasing an additional 69,590 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Snap-on in the 4th quarter worth about $148,839,000. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on 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 directly owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNA. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average price target of $346.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $327.59 on Friday. The firm’s 50 day moving average price is $340.99 and its 200-day moving average price is $331.05. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $17.17 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $4.75 earnings per share. Equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

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.