AustralianSuper Pty Ltd Sells 1,384 Shares of Snap-on Incorporated (NYSE:SNA)

AustralianSuper Pty Ltd reduced its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,880 shares of the company's stock after selling 1,384 shares during the period. AustralianSuper Pty Ltd's holdings in Snap-on were worth $8,107,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SNA. Aurora Investment Counsel increased its position 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 buying an additional 30 shares during the period. Greenleaf Trust boosted its stake in Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. increased its stake in shares of Snap-on by 70.5% in the fourth 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 period. WCM Investment Management LLC raised its holdings in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock valued at $247,000 after buying an additional 31 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company's stock worth $311,000 after buying an additional 32 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 over the last 90 days. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Roth Mkm raised their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Snap-on has an average rating of "Hold" and an average target price of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA traded down $0.94 during trading hours on Wednesday, hitting $341.91. 459,016 shares of the company's stock traded hands, compared to its average volume of 394,822. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company's fifty day simple moving average is $344.52 and its two-hundred day simple moving average is $322.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS 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 quarter in the prior year, the firm posted $4.75 earnings per share. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Monday, February 24th. Snap-on's payout ratio is 43.90%.

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.