Snap-on Incorporated (NYSE:SNA) Stake Trimmed by abrdn plc

abrdn plc lowered its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,199 shares of the company's stock after selling 1,598 shares during the quarter. abrdn plc's holdings in Snap-on were worth $7,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Aurora Investment Counsel boosted its holdings in Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock worth $1,028,000 after purchasing an additional 30 shares during the period. Greenleaf Trust boosted its holdings in Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. boosted its holdings 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 purchasing an additional 31 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Snap-on by 3.1% in the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company's stock worth $311,000 after purchasing an additional 32 shares during the period. Finally, Metis Global Partners LLC lifted its stake in Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company's stock valued at $490,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SNA shares. Bank of America raised their target price on 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 raised their target price 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 lifted their price objective 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. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday. Finally, Robert W. Baird lifted their price objective 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $345.40.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company's stock, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,643 shares of company stock valued at $13,580,191 over the last three months. Company insiders own 4.10% of the company's stock.

Snap-on Price Performance

NYSE:SNA traded down $2.80 during mid-day trading on Wednesday, reaching $334.54. 353,390 shares of the stock were exchanged, compared to its average volume of 400,271. The business has a fifty day moving average price of $346.16 and a 200 day moving average price of $320.59. The firm has a market capitalization of $17.57 billion, a PE ratio of 17.16, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 quarter last year, the company earned $4.75 EPS. Research analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

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.