Cypress Capital Group Sells 949 Shares of Snap-on Incorporated (NYSE:SNA)

Cypress Capital Group trimmed its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,552 shares of the company's stock after selling 949 shares during the quarter. Cypress Capital Group's holdings in Snap-on were worth $1,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SNA. UMB Bank n.a. boosted its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the 4th quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in shares of Snap-on during the 3rd quarter worth approximately $39,000. Finally, Private Trust Co. NA boosted its stake in shares of Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company's stock worth $63,000 after acquiring an additional 60 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNA. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $346.40.

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Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company's stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business'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 transaction, the chief executive officer now directly owns 769,738 shares of the company's stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,003 shares of company stock valued at $14,636,064 in the last three months. Corporate insiders own 4.10% of the company's stock.

Snap-on Stock Performance

NYSE:SNA traded up $8.02 during mid-day trading on Friday, hitting $342.36. 361,966 shares of the stock were exchanged, compared to its average volume of 382,599. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. 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 firm's 50-day simple moving average is $342.23 and its 200 day simple moving average is $327.17. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last announced 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 in the previous 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 Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.50%. Snap-on's dividend payout ratio is presently 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.