Snap-on Incorporated (NYSE:SNA) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,316 shares of the company’s stock after selling 382 shares during the quarter. Securian Asset Management Inc.’s holdings in Snap-on were worth $958,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNA. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-on by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after buying an additional 26,260 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after acquiring an additional 298,727 shares during the period. Northern Trust Corp lifted its holdings in Snap-on by 4.6% in the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock valued at $212,758,000 after acquiring an additional 36,556 shares during the period. Earnest Partners LLC grew its stake in shares of Snap-on by 5.8% during the 3rd quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after purchasing an additional 42,701 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after purchasing an additional 3,449 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Down 1.2 %

Shares of NYSE SNA opened at $276.10 on Wednesday. The company has a market cap of $14.56 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.93 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 stock has a fifty day moving average price of $282.95 and a 200 day moving average price of $281.36. 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 posted its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $4.60 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Anup R. Banerjee sold 12,397 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $283.13, for a total value of $3,509,962.61. Following the completion of the sale, the senior vice president now directly owns 11,420 shares in the company, valued at approximately $3,233,344.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,908 shares of company stock worth $15,744,592. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

About Snap-on

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.