Y Intercept Hong Kong Ltd Sells 349 Shares of Snap-on Incorporated (NYSE:SNA)

Y Intercept Hong Kong Ltd lowered its stake in Snap-on Incorporated (NYSE:SNA) by 6.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,887 shares of the company’s stock after selling 349 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Snap-on were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Snap-on by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after buying an additional 56,266 shares during the period. Geode Capital Management LLC raised its stake in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after buying an additional 69,590 shares during the period. Nordea Investment Management AB raised its stake in shares of 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 buying an additional 127,859 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective 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 given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Up 1.7 %

Shares of SNA opened at $341.66 on Wednesday. The business’s 50 day moving average is $343.32 and its 200 day moving average is $324.87. The company has a market capitalization of $17.90 billion, a PE ratio of 17.52, a price-to-earnings-growth 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 $373.89. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm posted $4.75 EPS. Research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company 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 $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on 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 sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock valued at $15,906,074 in the last quarter. 4.10% of the stock is currently owned by insiders.

About Snap-on

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.