World Investment Advisors Has $252,000 Stake in Snap-on Incorporated (NYSE:SNA)

World Investment Advisors trimmed its position in Snap-on Incorporated (NYSE:SNA) by 98.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 743 shares of the company’s stock after selling 65,845 shares during the quarter. World Investment Advisors’ holdings in Snap-on were worth $252,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SNA. Raymond James Financial Inc. acquired a new position in shares of Snap-on in the fourth quarter valued at $148,839,000. Norges Bank acquired a new position in shares of Snap-on in the fourth quarter valued at $145,342,000. Proficio Capital Partners LLC acquired a new position in shares of Snap-on in the fourth quarter valued at $57,738,000. 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 valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Amundi raised its stake in shares of Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after purchasing an additional 116,319 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. 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 note on Tuesday, March 4th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Price Performance

Snap-on stock opened at $329.77 on Thursday. The business’s 50-day simple moving average is $334.56 and its 200 day simple moving average is $336.19. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. 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 posted its quarterly 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 period in the previous year, the business earned $4.75 EPS. As a group, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

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.