Commonwealth Equity Services LLC Sells 3,899 Shares of Snap-on Incorporated (NYSE:SNA)

Commonwealth Equity Services LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,639 shares of the company's stock after selling 3,899 shares during the period. Commonwealth Equity Services LLC owned approximately 0.09% of Snap-on worth $16,852,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company's stock worth $613,019,000 after buying an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock worth $613,195,000 after acquiring an additional 77,486 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock worth $466,199,000 after acquiring an additional 69,590 shares during the last quarter. Nordea Investment Management AB boosted its stake 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. Finally, Pacer Advisors Inc. boosted its stake in shares of Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock valued at $262,957,000 after purchasing an additional 78,184 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Tigress Financial increased their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $346.40.

Snap-on Trading Down 0.7 %

NYSE SNA traded down $2.28 during trading hours on Friday, reaching $327.59. The company's stock had a trading volume of 1,763,806 shares, compared to its average volume of 326,608. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market cap of $17.17 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.21 and a beta of 0.99. The firm has a fifty day simple moving average of $341.08 and a 200-day simple moving average of $330.75.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly 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 last year, the firm earned $4.75 EPS. Equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The shares were 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 owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

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.