Yousif Capital Management LLC Trims Holdings in Snap-on Incorporated (NYSE:SNA)

Yousif Capital Management LLC reduced its stake in Snap-on Incorporated (NYSE:SNA) by 3.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,903 shares of the company’s stock after selling 257 shares during the period. Yousif Capital Management LLC’s holdings in Snap-on were worth $2,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brookstone Capital Management increased its position in Snap-on by 25.4% during the third quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock worth $323,000 after purchasing an additional 226 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Snap-on by 30.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,478 shares of the company’s stock valued at $1,297,000 after buying an additional 1,056 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Snap-on by 7.4% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,480 shares of the company’s stock worth $718,000 after buying an additional 170 shares during the last quarter. Orca Investment Management LLC raised its position in shares of Snap-on by 6.7% during the 3rd quarter. Orca Investment Management LLC now owns 4,078 shares of the company’s stock valued at $1,181,000 after buying an additional 255 shares during the period. Finally, Empirical Asset Management LLC lifted its holdings in Snap-on by 105.0% in the third quarter. Empirical Asset Management LLC now owns 2,040 shares of the company’s stock valued at $591,000 after acquiring an additional 1,045 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is currently owned by company insiders.

Snap-on Stock Performance

NYSE SNA opened at $340.38 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. The company has a market cap of $17.87 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.13 and a beta of 0.99. The stock has a 50-day moving average of $347.29 and a two-hundred day moving average of $320.10. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 in the previous year, the company earned $4.75 earnings per share. As a group, analysts anticipate that Snap-on Incorporated will post 20.07 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday. Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Snap-on presently has an average rating of “Hold” and a consensus target price of $345.40.

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.