Snap-on Incorporated (NYSE:SNA) Stake Lowered by Seizert Capital Partners LLC

Seizert Capital Partners LLC cut its stake in Snap-on Incorporated (NYSE:SNA) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,669 shares of the company’s stock after selling 14,664 shares during the quarter. Seizert Capital Partners LLC’s holdings in Snap-on were worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the fourth quarter worth approximately $28,000. Brooklyn Investment Group acquired a new position in Snap-on during the third quarter valued at approximately $39,000. Finally, Asset Planning Inc bought a new position in shares of Snap-on in the fourth quarter valued at approximately $68,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Price Performance

NYSE:SNA opened at $329.53 on Wednesday. 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 company has a 50-day moving average of $343.03 and a 200-day moving average of $326.70. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released 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 prior year, the business earned $4.75 EPS. As a group, equities research 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 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 is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.60%. Snap-on’s dividend payout ratio is currently 43.90%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Tigress Financial boosted 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. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $346.40.

Insider Buying and Selling at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred 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 transaction, 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 transaction 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 business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,003 shares of company stock valued at $14,636,064. 4.10% of the stock is currently 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.