PNC Financial Services Group Inc. Has $10.08 Million Holdings in Snap-on Incorporated (NYSE:SNA)

PNC Financial Services Group Inc. lessened its position in Snap-on Incorporated (NYSE:SNA) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 29,695 shares of the company’s stock after selling 147 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Snap-on worth $10,081,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aurora Investment Counsel grew its stake in Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after acquiring an additional 30 shares during the period. Greenleaf Trust grew its stake in Snap-on by 3.1% in 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 period. UMB Bank n.a. grew 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 during the period. WCM Investment Management LLC grew its stake in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the period. Finally, New York Life Investment Management LLC boosted its position in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Down 1.2 %

Shares of NYSE:SNA opened at $335.51 on Wednesday. The business’s 50 day moving average is $342.21 and its 200 day moving average is $328.77. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. 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 (NYSE:SNA) last issued 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company earned $4.75 EPS. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,220 shares of company stock worth $6,906,802. 4.10% of the stock is owned by company insiders.

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.