iA Global Asset Management Inc. Sells 1,580 Shares of Snap-on Incorporated (NYSE:SNA)

iA Global Asset Management Inc. trimmed its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 21.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,708 shares of the company's stock after selling 1,580 shares during the period. iA Global Asset Management Inc.'s holdings in Snap-on were worth $1,938,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNA. UMB Bank n.a. lifted its holdings 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. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on during the 4th quarter valued at $28,000. Brooklyn Investment Group bought a new position in Snap-on in the 3rd quarter valued at $39,000. Finally, TCTC Holdings LLC grew its holdings in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on 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 transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

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Snap-on Trading Up 0.4 %

SNA stock traded up $1.47 during midday trading on Wednesday, reaching $337.39. The stock had a trading volume of 238,249 shares, compared to its average volume of 324,964. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $340.87 and a two-hundred day simple moving average of $332.70.

Snap-on (NYSE:SNA - Get Free Report) last issued 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 quarter in the previous year, the business posted $4.75 earnings per share. As a group, research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is 43.90%.

Analyst Upgrades and Downgrades

SNA has been the topic of several research reports. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial upped their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on currently has an average rating of "Hold" and an average price target of $346.40.

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.