Advisors Asset Management Inc. Cuts Holdings in Snap-on Incorporated (NYSE:SNA)

Advisors Asset Management Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,152 shares of the company's stock after selling 1,355 shares during the period. Advisors Asset Management Inc.'s holdings in Snap-on were worth $3,786,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNA. UMB Bank n.a. raised 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. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in Snap-on in the third quarter worth $39,000. Finally, TCTC Holdings LLC increased its position in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Shares of NYSE SNA traded down $1.37 during trading on Tuesday, reaching $335.99. 289,674 shares of the company traded hands, compared to its average volume of 325,162. The stock has a market capitalization of $17.61 billion, a PE ratio of 17.23, a P/E/G ratio of 2.21 and a beta of 0.99. The firm has a 50 day simple moving average of $340.95 and a 200-day simple moving average of $332.24. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

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Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 in the prior year, the business earned $4.75 EPS. Equities research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is 43.90%.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred 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 sale, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNA. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $346.40.

Snap-on 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.