Snap-on Incorporated (NYSE:SNA) Holdings Cut by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its stake in Snap-on Incorporated (NYSE:SNA) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,190 shares of the company’s stock after selling 875 shares during the period. Moran Wealth Management LLC’s holdings in Snap-on were worth $10,928,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Snap-on in the 4th quarter worth approximately $148,839,000. Proficio Capital Partners LLC bought a new stake in Snap-on in the fourth quarter valued at $57,738,000. Benjamin Edwards Inc. lifted its stake in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after buying an additional 152,428 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Snap-on by 12.8% during 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 position in shares of Snap-on by 137.0% during the fourth quarter. Amundi now owns 201,207 shares of the company’s stock worth $68,039,000 after acquiring an additional 116,319 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

SNA stock opened at $342.36 on Monday. The company has a 50-day simple moving average of $342.21 and a 200 day simple moving average of $328.33. The company has a market capitalization of $17.94 billion, a P/E ratio of 17.56, a PEG ratio of 2.21 and a beta of 0.99. 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 fifty-two week low of $252.98 and a fifty-two week high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 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 quarter in the prior year, the business posted $4.75 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.50%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was 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 owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of analyst reports. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial lifted 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $346.40.

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.