New York Life Investment Management LLC Sells 70 Shares of Snap-on Incorporated (NYSE:SNA)

New York Life Investment Management LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,557 shares of the company’s stock after selling 70 shares during the period. New York Life Investment Management LLC’s holdings in Snap-on were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its stake in Snap-on by 0.5% during the 3rd quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock valued at $5,582,000 after acquiring an additional 114 shares during the period. Verdence Capital Advisors LLC lifted its position in Snap-on by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock valued at $415,000 after purchasing an additional 80 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Snap-on by 3.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,082 shares of the company’s stock worth $17,365,000 after purchasing an additional 2,476 shares during the last quarter. Mackenzie Financial Corp raised its stake in Snap-on by 2.2% during the 3rd quarter. Mackenzie Financial Corp now owns 4,271 shares of the company’s stock valued at $1,085,000 after buying an additional 90 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Snap-on by 6.5% during the 3rd quarter. Strs Ohio now owns 9,831 shares of the company’s stock valued at $2,507,000 after buying an additional 604 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Up 1.4 %

Snap-on stock opened at $274.74 on Tuesday. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 1.87 and a beta of 1.00. Snap-on Incorporated has a 12-month low of $247.68 and a 12-month high of $298.49. The firm has a 50 day moving average of $284.32 and a 200 day moving average of $279.64. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $4.60 EPS. The company’s revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Snap-on Incorporated will post 19.02 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total value of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares in the company, valued at $2,333,379.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,930 shares of company stock valued at $14,089,523. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNA shares. Robert W. Baird cut their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

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.