Mcrae Capital Management Inc. Reduces Stock Position in Snap-on Incorporated (NYSE:SNA)

Mcrae Capital Management Inc. reduced its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,608 shares of the company's stock after selling 760 shares during the quarter. Snap-on comprises about 3.4% of Mcrae Capital Management Inc.'s portfolio, making the stock its 12th biggest position. Mcrae Capital Management Inc. owned approximately 0.10% of Snap-on worth $17,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNA. Benjamin Edwards Inc. grew its position in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock valued at $45,810,000 after purchasing an additional 152,428 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock valued at $37,760,000 after buying an additional 129,960 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after buying an additional 127,859 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company's stock worth $74,586,000 after acquiring an additional 80,421 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock worth $262,957,000 after acquiring an additional 78,184 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNA. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued 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 $345.40.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on 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 sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares of the company's stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,643 shares of company stock worth $13,580,191 over the last three months. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of SNA stock traded up $3.50 during trading on Tuesday, hitting $342.42. The company's stock had a trading volume of 342,848 shares, compared to its average volume of 392,753. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.98 billion, a PE ratio of 17.56, a P/E/G ratio of 2.13 and a beta of 0.99. The business has a fifty day moving average of $345.04 and a 200-day moving average of $322.05. Snap-on Incorporated has a 52 week low of $252.98 and a 52 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 (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $4.75 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Announces Dividend

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 given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio is 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.