Hartford Investment Management Co. Cuts Position in Snap-on Incorporated (NYSE:SNA)

Hartford Investment Management Co. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 3,264 shares of the company’s stock after selling 63 shares during the period. Hartford Investment Management Co.’s holdings in Snap-on were worth $1,108,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SNA. Aurora Investment Counsel raised its holdings in Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares in the last quarter. Greenleaf Trust lifted its position in Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after acquiring an additional 30 shares during the last quarter. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. WCM Investment Management LLC grew its holdings in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its position in shares of Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNA. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on has an average rating of “Hold” and an average price target of $345.40.

Snap-on Trading Down 0.2 %

Shares of NYSE:SNA opened at $339.12 on Friday. The business has a 50-day moving average price of $345.36 and a 200-day moving average price of $321.13. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $4.75 earnings per share. Equities analysts predict that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s payout ratio is currently 43.90%.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,643 shares of company stock valued at $13,580,191 in the last quarter. 4.10% of the stock is currently owned by company insiders.

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.