Envestnet Asset Management Inc. Acquires 15,591 Shares of Snap-on Incorporated (NYSE:SNA)

Envestnet Asset Management Inc. grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 759,429 shares of the company’s stock after purchasing an additional 15,591 shares during the period. Envestnet Asset Management Inc.’s holdings in Snap-on were worth $257,811,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Snap-on during the fourth quarter valued at $148,839,000. Norges Bank acquired a new position in shares of Snap-on in the 4th quarter valued at about $145,342,000. Proficio Capital Partners LLC bought a new stake in shares of Snap-on during the 4th quarter valued at about $57,738,000. Nordea Investment Management AB grew its stake in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares during the period. Finally, Amundi lifted its stake in Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after buying an additional 116,319 shares during the period. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNA. Tigress Financial boosted their target price 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. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research raised 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.33.

Snap-on Stock Down 3.8 %

SNA opened at $314.98 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a market cap of $16.51 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. 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 company has a 50 day moving average of $338.24 and a 200 day moving average of $335.37.

Snap-on (NYSE:SNA) last announced its quarterly earnings results 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 earned $4.75 EPS. On average, sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction 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 completion of the transaction, the senior vice president now 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 sold a total of 36,011 shares of company stock worth $12,116,859 over the last three months. 3.90% of the stock is owned by insiders.

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.