Apriem Advisors Sells 3,984 Shares of Snap-on Incorporated (NYSE:SNA)

Apriem Advisors lessened its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,920 shares of the company's stock after selling 3,984 shares during the quarter. Snap-on comprises 1.7% of Apriem Advisors' portfolio, making the stock its 14th largest position. Apriem Advisors owned approximately 0.09% of Snap-on worth $15,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bryn Mawr Capital Management LLC grew its holdings in Snap-on by 3.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 14,480 shares of the company's stock worth $4,916,000 after purchasing an additional 425 shares during the period. Denali Advisors LLC purchased a new stake in Snap-on in the fourth quarter worth about $852,000. Amalgamated Bank lifted its stake in shares of Snap-on by 1.6% in the fourth quarter. Amalgamated Bank now owns 11,149 shares of the company's stock worth $3,785,000 after buying an additional 180 shares in the last quarter. CWS Financial Advisors LLC bought a new position in shares of Snap-on in the fourth quarter worth approximately $232,000. Finally, BankPlus Trust Department bought a new position in shares of Snap-on in the fourth quarter worth approximately $173,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Stock Up 1.2 %

Shares of NYSE SNA traded up $4.08 during midday trading on Friday, hitting $341.00. The stock had a trading volume of 370,264 shares, compared to its average volume of 387,145. The business's 50 day moving average is $343.25 and its 200-day moving average is $325.92. The company has a market cap of $17.87 billion, a P/E ratio of 17.49, 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 company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Remove Ads

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share 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 quarter in the prior year, the business earned $4.75 EPS. As a group, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.51%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the 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 owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock worth $15,906,074 over the last quarter. Company insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $345.40.

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.