AIA Group Ltd Sells 333 Shares of Snap-on Incorporated (NYSE:SNA)

AIA Group Ltd lowered its stake in Snap-on Incorporated (NYSE:SNA) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the company’s stock after selling 333 shares during the period. AIA Group Ltd’s holdings in Snap-on were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter valued at about $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on during the fourth quarter valued at $40,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 in the last three months. Company insiders own 3.90% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock opened at $337.25 on Tuesday. The stock has a market cap of $17.68 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock’s fifty day moving average is $339.90 and its 200 day moving average is $334.34. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 in the previous year, the company posted $4.75 EPS. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on SNA shares. Tigress Financial lifted their target price on shares of 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 set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Company 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.