Boston Research & Management Inc. Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Boston Research & Management Inc. lessened its position in Snap-on Incorporated (NYSE:SNA) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,791 shares of the company’s stock after selling 68 shares during the quarter. Snap-on makes up about 1.6% of Boston Research & Management Inc.’s portfolio, making the stock its 23rd largest holding. Boston Research & Management Inc.’s holdings in Snap-on were worth $6,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Greenleaf Trust boosted its holdings in shares of Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. WCM Investment Management LLC boosted its position in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the last quarter. New York Life Investment Management LLC increased its position in Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock valued at $1,148,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNA. Tigress Financial upped their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on has an average rating of “Hold” and an average price target of $346.40.

Snap-on Price Performance

SNA stock opened at $329.09 on Monday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The firm has a market capitalization of $17.25 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. 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 business’s 50-day moving average is $340.12 and its two-hundred day moving average is $333.92.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 period in the prior year, the company earned $4.75 earnings per share. Analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm 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 2.60%. Snap-on’s payout ratio is currently 43.90%.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 257 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% 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.