Bank of Montreal Can Decreases Stock Position in Snap-on Incorporated (NYSE:SNA)

Bank of Montreal Can lowered its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,546 shares of the company's stock after selling 17,575 shares during the period. Bank of Montreal Can owned approximately 0.72% of Snap-on worth $127,830,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SNA. Raymond James Financial Inc. acquired a new stake in Snap-on in the fourth quarter valued at $148,839,000. Norges Bank acquired a new stake in Snap-on in the 4th quarter valued at about $145,342,000. Proficio Capital Partners LLC purchased a new position in Snap-on during the 4th quarter valued at about $57,738,000. Nordea Investment Management AB raised its position in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after acquiring an additional 127,859 shares during the last quarter. Finally, Amundi raised its position in Snap-on by 137.0% during the fourth quarter. Amundi now owns 201,207 shares of the company's stock worth $68,039,000 after acquiring an additional 116,319 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Trading Up 4.4 %

Shares of Snap-on stock traded up $14.14 during trading hours on Friday, reaching $336.50. 611,209 shares of the company's stock were exchanged, compared to its average volume of 350,799. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a fifty day moving average of $333.58 and a 200-day moving average of $337.16. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84.

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Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 prior year, the firm earned $4.75 EPS. Sell-side analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 43.90%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Friday. Finally, Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $355.33.

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.