Moran Wealth Management LLC Lowers Stock Position in Snap-on Incorporated (NYSE:SNA)

Moran Wealth Management LLC reduced its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,190 shares of the company's stock after selling 875 shares during the period. Moran Wealth Management LLC owned approximately 0.06% of Snap-on worth $10,928,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Snap-on by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,617 shares of the company's stock worth $2,786,000 after buying an additional 953 shares in the last quarter. Principal Financial Group Inc. raised its position in Snap-on by 5.8% in the third quarter. Principal Financial Group Inc. now owns 280,593 shares of the company's stock worth $81,289,000 after acquiring an additional 15,314 shares in the last quarter. Summit Global Investments lifted its holdings in Snap-on by 2.6% in the third quarter. Summit Global Investments now owns 2,154 shares of the company's stock valued at $624,000 after acquiring an additional 54 shares during the period. Leavell Investment Management Inc. boosted its position in shares of Snap-on by 58.4% during the 3rd quarter. Leavell Investment Management Inc. now owns 2,440 shares of the company's stock worth $707,000 after purchasing an additional 900 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Snap-on during the 3rd quarter worth $1,175,000. Institutional investors and hedge funds own 84.88% of the company's stock.

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Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % 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, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,220 shares of company stock valued at $6,906,802. Corporate insiders own 4.10% of the company's stock.

Snap-on Price Performance

Shares of Snap-on stock traded down $2.46 on Thursday, hitting $323.15. The company's stock had a trading volume of 366,567 shares, compared to its average volume of 327,228. 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 firm has a fifty day moving average price of $341.84 and a 200-day moving average price of $329.10. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market capitalization of $16.93 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly 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 prior year, the firm earned $4.75 EPS. On average, equities research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared 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 yield of 2.65%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is 43.90%.

Analyst Ratings Changes

SNA has been the topic of a number of research analyst reports. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $346.40.

Snap-on Company 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.