Snap-on Incorporated (NYSE:SNA) Position Lowered by Blue Trust Inc.

Blue Trust Inc. lowered its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 42.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,052 shares of the company's stock after selling 1,544 shares during the period. Blue Trust Inc.'s holdings in Snap-on were worth $696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bleakley Financial Group LLC purchased a new position in shares of Snap-on in the 4th quarter worth $512,000. Vest Financial LLC increased its stake in Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after acquiring an additional 2,460 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock worth $5,764,000 after purchasing an additional 67 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock worth $13,264,000 after purchasing an additional 1,605 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at about $19,291,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

SNA has been the topic of several research reports. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Finally, Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. 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 data from MarketBeat, Snap-on has a consensus rating of "Hold" and a consensus price target of $345.40.

Snap-on Stock Down 0.3 %

Snap-on stock traded down $0.94 during midday trading on Wednesday, hitting $341.91. 459,016 shares of the company were exchanged, compared to its average volume of 394,822. The company has a market cap of $17.91 billion, a PE ratio of 17.53, a price-to-earnings-growth 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 $373.89. The company's fifty day moving average price is $344.52 and its 200-day moving average price is $322.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

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, topping 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 previous year, the company earned $4.75 EPS. On average, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company 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. 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 2.50%. Snap-on's payout ratio is currently 43.90%.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly 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 sold 38,643 shares of company stock worth $13,580,191 over the last ninety days. Corporate insiders own 4.10% of the company's stock.

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.