Hudson Edge Investment Partners Inc. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,984 shares of the company's stock after selling 1,559 shares during the quarter. Snap-on comprises approximately 1.3% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 16th largest position. Hudson Edge Investment Partners Inc.'s holdings in Snap-on were worth $6,784,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on in the 4th quarter worth $28,000. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in shares of Snap-on in the 3rd quarter worth approximately $39,000. Finally, Private Trust Co. NA boosted its stake in Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company's stock worth $63,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.
Insider Activity
In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock worth $15,906,074 in the last quarter. Corporate insiders own 4.10% of the company's stock.
Snap-on Stock Performance
Shares of SNA traded up $3.34 during mid-day trading on Monday, reaching $337.08. The company had a trading volume of 102,684 shares, compared to its average volume of 380,183. The stock has a market capitalization of $17.66 billion, a P/E ratio of 17.29, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a 50 day moving average of $343.79 and a two-hundred day moving average of $323.95. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.
Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $4.75 earnings per share. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.
Snap-on Announces Dividend
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. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio (DPR) is presently 43.90%.
Analysts Set New Price Targets
Separately, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $345.40.
Read Our Latest Stock Analysis on SNA
About Snap-on
(
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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