Glassman Wealth Services Sells 55 Shares of Snap-on Incorporated (NYSE:SNA)

Glassman Wealth Services trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 101,044 shares of the company’s stock after selling 55 shares during the period. Snap-on makes up approximately 5.8% of Glassman Wealth Services’ holdings, making the stock its 7th biggest position. Glassman Wealth Services’ holdings in Snap-on were worth $34,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bailard Inc. grew its holdings in shares of Snap-on by 12.1% during the fourth quarter. Bailard Inc. now owns 7,771 shares of the company’s stock valued at $2,638,000 after buying an additional 841 shares in the last quarter. Norden Group LLC grew its holdings in shares of Snap-on by 13.5% during the fourth quarter. Norden Group LLC now owns 2,686 shares of the company’s stock valued at $912,000 after buying an additional 320 shares in the last quarter. Jacobi Capital Management LLC purchased a new position in shares of Snap-on during the fourth quarter valued at $209,000. Metis Global Partners LLC grew its holdings in shares of Snap-on by 3.8% during the fourth quarter. Metis Global Partners LLC now owns 1,755 shares of the company’s stock valued at $596,000 after buying an additional 64 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Snap-on by 1.0% during the fourth quarter. US Bancorp DE now owns 33,828 shares of the company’s stock valued at $11,485,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was 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 of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock valued at $15,906,074 over the last quarter. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $341.00 on Friday. The business’s 50-day moving average price is $343.25 and its two-hundred day moving average price is $325.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a market capitalization of $17.87 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 EPS 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 period in the prior year, the company earned $4.75 EPS. Analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.51%. Snap-on’s dividend payout ratio is currently 43.90%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $345.40.

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.