Snap-on Incorporated (NYSE:SNA) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 40.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,326 shares of the company's stock after selling 4,926 shares during the period. Manning & Napier Advisors LLC's holdings in Snap-on were worth $2,487,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the period. Reston Wealth Management LLC acquired a new position in Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group acquired a new position in Snap-on in the 3rd quarter valued at about $39,000. Finally, Quarry LP increased its position in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Trading Up 1.5 %

Shares of Snap-on stock opened at $358.34 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a market capitalization of $18.82 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.21 and a beta of 1.00. The business has a 50 day moving average price of $350.18 and a 200 day moving average price of $315.80.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This is an increase from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on's payout ratio is currently 44.06%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNA. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Finally, Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. 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 has an average rating of "Hold" and an average price target of $345.40.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company's stock, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock worth $11,400,978 in the last ninety days. Insiders own 4.10% of the company's stock.

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.

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