World Investment Advisors Trims Stock Holdings in Snap-on Incorporated (NYSE:SNA)

World Investment Advisors decreased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 98.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 743 shares of the company's stock after selling 65,845 shares during the quarter. World Investment Advisors' holdings in Snap-on were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. Raymond James Financial Inc. purchased a new stake in Snap-on during the 4th quarter worth about $148,839,000. Norges Bank bought a new stake in shares of Snap-on during the fourth quarter valued at about $145,342,000. Proficio Capital Partners LLC purchased a new stake in shares of Snap-on in the fourth quarter worth about $57,738,000. Nordea Investment Management AB boosted its position in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after acquiring an additional 127,859 shares during the period. Finally, Amundi grew its stake in Snap-on by 137.0% during the fourth quarter. Amundi now owns 201,207 shares of the company's stock valued at $68,039,000 after acquiring an additional 116,319 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on 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 sale, 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 legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. 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 in the last ninety days. 3.90% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

SNA has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a research report on Tuesday. Longbow Research upgraded 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. Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $355.67.

Snap-on Price Performance

Shares of NYSE SNA traded up $3.07 during trading hours on Tuesday, reaching $339.96. 92,396 shares of the stock traded hands, compared to its average volume of 349,889. The company has a market capitalization of $17.82 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company's 50-day simple moving average is $333.16 and its two-hundred day simple moving average is $337.49. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-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 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 period last year, the business posted $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is presently 43.90%.

About Snap-on

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.