Snap-on Incorporated (NYSE:SNA) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 80.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 863 shares of the company's stock after selling 3,615 shares during the quarter. Exchange Traded Concepts LLC's holdings in Snap-on were worth $293,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its stake in shares of Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after acquiring an additional 152,428 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock worth $37,760,000 after purchasing an additional 129,960 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Snap-on by 45.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company's stock valued at $74,586,000 after buying an additional 80,421 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock worth $262,957,000 after buying an additional 78,184 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNA. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Barrington Research reiterated an "outperform" rating and issued a $360.00 target price on shares of Snap-on in a research report on Monday. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $347.40.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 2,289 shares of the company's stock, valued at $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock valued at $11,400,978 in the last ninety days. Company insiders own 4.10% of the company's stock.

Snap-on Stock Performance

SNA traded up $4.18 during trading on Tuesday, reaching $356.23. 397,164 shares of the company were exchanged, compared to its average volume of 378,144. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.71 billion, a P/E ratio of 18.33, a PEG ratio of 2.23 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 firm has a 50 day moving average of $349.28 and a 200 day moving average of $318.11.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.40%. Snap-on's dividend payout ratio (DPR) is currently 44.06%.

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.