Essex Investment Management Co. LLC Sells 43 Shares of Snap-on Incorporated (NYSE:SNA)

Essex Investment Management Co. LLC reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,205 shares of the company’s stock after selling 43 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Snap-on were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNA. Bleakley Financial Group LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $512,000. Vest Financial LLC raised its position in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after acquiring an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares during the period. World Investment Advisors LLC bought a new position in shares of Snap-on in the 3rd quarter worth $19,291,000. Finally, Avanza Fonder AB bought a new position in shares of Snap-on in the 4th quarter worth $1,936,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA stock opened at $342.36 on Monday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.94 billion, a PE ratio of 17.56, a P/E/G ratio of 2.21 and a beta of 0.99. The business’s 50-day moving average price is $342.21 and its two-hundred day moving average price is $328.33.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share 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 quarter in the previous year, the firm posted $4.75 EPS. As a group, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on’s payout ratio is 43.90%.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on 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 completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNA. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $346.40.

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.