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

Securian Asset Management Inc. lessened its stake in Snap-on Incorporated (NYSE:SNA) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,777 shares of the company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Snap-on were worth $943,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNA. Raymond James Financial Inc. acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $148,839,000. Proficio Capital Partners LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at approximately $57,738,000. Benjamin Edwards Inc. grew its position in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after acquiring an additional 152,428 shares during the period. Nordea Investment Management AB grew its position in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after acquiring an additional 127,859 shares during the period. Finally, Amundi grew its position in Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock worth $68,039,000 after acquiring an additional 116,319 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % 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. Corporate insiders own 4.10% of the company’s stock.

Snap-on Trading Up 2.4 %

SNA opened at $331.93 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The business has a fifty day simple moving average of $341.51 and a 200-day simple moving average of $329.73. The firm has a market cap of $17.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.99. 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 released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate 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 earnings per share. On average, equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Analyst Upgrades and Downgrades

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

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.