Connor Clark & Lunn Investment Management Ltd. acquired a new position in Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,145 shares of the company's stock, valued at approximately $1,068,000.
Several other large investors have also modified their holdings of SNA. EverSource Wealth Advisors LLC increased its position in Snap-on by 53.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 229 shares of the company's stock worth $78,000 after buying an additional 80 shares during the period. Sequoia Financial Advisors LLC increased its position in Snap-on by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 835 shares of the company's stock worth $284,000 after acquiring an additional 66 shares during the period. HighTower Advisors LLC raised its stake in Snap-on by 2.1% during the 4th quarter. HighTower Advisors LLC now owns 49,226 shares of the company's stock valued at $16,711,000 after purchasing an additional 1,006 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after purchasing an additional 34 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Snap-on by 7.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,943 shares of the company's stock worth $2,357,000 after purchasing an additional 490 shares during the period. 84.88% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
SNA has been the subject of several research reports. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on has an average rating of "Hold" and a consensus price target of $346.40.
Read Our Latest Stock Report on SNA
Snap-on Price Performance
Shares of Snap-on stock traded up $9.57 during trading on Monday, hitting $337.54. 411,799 shares of the company's stock traded hands, compared to its average volume of 325,622. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $17.69 billion, a PE ratio of 17.31, a PEG ratio of 2.21 and a beta of 0.99. The firm's fifty day moving average price is $340.99 and its 200 day moving average price is $331.78.
Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 period last year, the company posted $4.75 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.
Snap-on Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on's payout ratio is presently 43.90%.
Insider Buying and Selling
In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
Snap-on Profile
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Free Report)
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.
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