Royal London Asset Management Ltd. Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Royal London Asset Management Ltd. lifted its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,571 shares of the company's stock after buying an additional 2,324 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Snap-on were worth $8,681,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new position in Snap-on in the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on during the fourth quarter worth $28,000. Brooklyn Investment Group purchased a new stake in Snap-on during the 3rd quarter worth about $39,000. Finally, TCTC Holdings LLC raised its position in Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on SNA. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Snap-on has an average rating of "Hold" and an average target price of $346.40.

Snap-on Stock Down 0.6 %

SNA traded down $2.05 on Thursday, reaching $335.40. The company's stock had a trading volume of 308,275 shares, compared to its average volume of 324,923. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week 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 stock has a 50 day moving average of $340.71 and a two-hundred day moving average of $332.73.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts' consensus estimates 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 business posted $4.75 EPS. As a group, analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is currently 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.