Everett Harris & Co. CA Sells 2,000 Shares of Snap-on Incorporated (NYSE:SNA)

Everett Harris & Co. CA lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 50.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,000 shares of the company’s stock after selling 2,000 shares during the period. Everett Harris & Co. CA’s holdings in Snap-on were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. MetLife Investment Management LLC raised its holdings in shares of Snap-on by 22.4% during the 1st quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock valued at $2,985,000 after purchasing an additional 2,657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Snap-on by 6.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock valued at $1,469,000 after purchasing an additional 407 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Snap-on by 11.3% during the 1st quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock valued at $25,727,000 after purchasing an additional 12,720 shares in the last quarter. Aviva PLC raised its holdings in shares of Snap-on by 12.3% during the 1st quarter. Aviva PLC now owns 33,102 shares of the company’s stock valued at $6,802,000 after purchasing an additional 3,636 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Snap-on during the 1st quarter valued at $302,000. Institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 46,664 shares of company stock worth $13,189,544 in the last ninety days. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SNA shares. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $306.00.

Snap-on Stock Performance

NYSE SNA traded down $0.72 during midday trading on Thursday, hitting $296.22. The company had a trading volume of 241,410 shares, compared to its average volume of 308,411. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.08 and a beta of 0.98. The firm has a fifty day simple moving average of $283.38 and a two-hundred day simple moving average of $274.79. Snap-on Incorporated has a fifty-two week low of $226.68 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $4.42 EPS. Equities analysts forecast that Snap-on Incorporated will post 19.21 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.51%. Snap-on’s dividend payout ratio is 39.68%.

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.