SG Americas Securities LLC Trims Position in Snap-on Incorporated (NYSE:SNA)

SG Americas Securities LLC cut its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 99.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 512 shares of the company's stock after selling 59,665 shares during the period. SG Americas Securities LLC's holdings in Snap-on were worth $174,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SNA. Czech National Bank increased its holdings in shares of Snap-on by 6.8% during the third quarter. Czech National Bank now owns 10,732 shares of the company's stock worth $3,109,000 after buying an additional 685 shares in the last quarter. Brookstone Capital Management increased its position in Snap-on by 25.4% in the 3rd quarter. Brookstone Capital Management now owns 1,116 shares of the company's stock valued at $323,000 after acquiring an additional 226 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Snap-on by 30.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,478 shares of the company's stock worth $1,297,000 after purchasing an additional 1,056 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Snap-on by 7.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,480 shares of the company's stock valued at $718,000 after buying an additional 170 shares during the last quarter. Finally, Orca Investment Management LLC lifted its stake in shares of Snap-on by 6.7% during the third quarter. Orca Investment Management LLC now owns 4,078 shares of the company's stock valued at $1,181,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Roth Mkm raised their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research note on Friday, October 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a report on Monday. Robert W. Baird upped 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. Finally, Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap-on presently has a consensus rating of "Hold" and an average price target of $345.40.

Snap-on Price Performance

Shares of Snap-on stock traded up $4.84 on Thursday, reaching $339.73. 294,503 shares of the stock were exchanged, compared to its average volume of 396,621. The firm's 50 day moving average is $345.73 and its 200-day moving average is $320.72. The firm has a market cap of $17.84 billion, a PE ratio of 17.42, a P/E/G ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15.

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 (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $4.75 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares of the company's stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is currently owned by insiders.

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.