National Bank of Canada FI Decreases Stake in Snap-on Incorporated (NYSE:SNA)

National Bank of Canada FI lessened its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 53.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,102 shares of the company's stock after selling 41,124 shares during the period. National Bank of Canada FI owned about 0.07% of Snap-on worth $12,256,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SNA. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on in the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at about $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on during the fourth quarter worth about $40,000. Finally, TCTC Holdings LLC grew its position in Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Tigress Financial boosted their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Finally, Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $355.33.

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Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 over the last three months. 3.90% of the stock is owned by corporate insiders.

Snap-on Stock Performance

Shares of SNA traded down $13.24 during trading hours on Thursday, hitting $316.65. The company's stock had a trading volume of 70,923 shares, compared to its average volume of 410,943. The business has a 50 day simple moving average of $334.56 and a two-hundred day simple moving average of $336.19. 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 Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm earned $4.75 EPS. On average, equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.70%. Snap-on's payout ratio 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.