CANADA LIFE ASSURANCE Co Has $15.62 Million Position in Snap-on Incorporated (NYSE:SNA)

CANADA LIFE ASSURANCE Co cut its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,040 shares of the company's stock after selling 2,058 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.09% of Snap-on worth $15,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% in 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 period. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the fourth quarter worth about $28,000. CoreFirst Bank & Trust acquired a new position in Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Down 0.7 %

Shares of SNA traded down $2.10 during trading hours on Friday, hitting $308.64. 262,238 shares of the company were exchanged, compared to its average volume of 356,837. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market cap of $16.18 billion, a PE ratio of 15.83, a PEG ratio of 2.21 and a beta of 0.84. The firm's 50 day moving average is $328.80 and its 200-day moving average is $338.07. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. 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 company posted $4.91 earnings per share. On average, equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.77%. Snap-on's dividend payout ratio is presently 44.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNA. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. StockNews.com lowered shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday, April 17th. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Tigress Financial boosted 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $350.83.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction 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 directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 in the last 90 days. 3.90% of the stock is currently owned by insiders.

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.