Castellan Group Cuts Stock Position in Snap-on Incorporated (NYSE:SNA)

Castellan Group lowered its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,764 shares of the company's stock after selling 1,244 shares during the quarter. Castellan Group's holdings in Snap-on were worth $2,636,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in Snap-on by 89.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,951 shares of the company's stock worth $6,016,000 after purchasing an additional 8,471 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its stake in Snap-on by 11.1% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 770 shares of the company's stock valued at $261,000 after purchasing an additional 77 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Snap-on in the 4th quarter valued at $86,000. Savant Capital LLC raised its holdings in Snap-on by 13.4% during the 4th quarter. Savant Capital LLC now owns 1,748 shares of the company's stock worth $593,000 after purchasing an additional 206 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Snap-on by 11.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,349 shares of the company's stock valued at $1,137,000 after purchasing an additional 336 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Down 0.2 %

Shares of SNA stock traded down $0.61 during trading hours on Monday, reaching $339.12. 330,511 shares of the stock were exchanged, compared to its average volume of 395,688. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company's 50-day moving average price is $345.36 and its 200-day moving average price is $321.63. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm posted $4.75 EPS. As a group, equities analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on's payout ratio is 43.90%.

Analyst Ratings Changes

SNA has been the topic of several research analyst reports. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $345.40.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,909 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares of the company's stock, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $7,729,261.89. Following the transaction, the chief executive officer now directly owns 769,738 shares of the company's stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,643 shares of company stock valued at $13,580,191. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Company 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.