Wells Fargo & Company MN Lowers Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Wells Fargo & Company MN decreased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,987 shares of the company's stock after selling 17,048 shares during the quarter. Wells Fargo & Company MN owned about 0.32% of Snap-on worth $56,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bleakley Financial Group LLC purchased a new position in shares of Snap-on during the 4th quarter valued at approximately $512,000. Vest Financial LLC boosted its stake in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock valued at $13,264,000 after buying an additional 1,605 shares during the last quarter. World Investment Advisors LLC acquired a new position in Snap-on during the third quarter worth about $19,291,000. Finally, Avanza Fonder AB purchased a new stake in Snap-on during the 4th quarter valued at about $1,936,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of analyst reports. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Friday. Finally, Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $355.33.

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Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm's 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 sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Snap-on Stock Up 0.8 %

Shares of SNA traded up $2.84 during mid-day trading on Monday, hitting $339.01. 39,734 shares of the company's stock were exchanged, compared to its average volume of 349,589. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.21 and a beta of 0.84. The stock's 50-day moving average is $333.58 and its 200-day moving average is $337.16. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company earned $4.75 EPS. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on's payout ratio is 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.