Cozad Asset Management Inc. Reduces Stake in Snap-on Incorporated (NYSE:SNA)

Cozad Asset Management Inc. lowered its stake in Snap-on Incorporated (NYSE:SNA) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 7,784 shares of the company’s stock after selling 242 shares during the period. Cozad Asset Management Inc.’s holdings in Snap-on were worth $2,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TCTC Holdings LLC grew its position in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Cibc World Markets Corp grew its position in Snap-on by 16.1% in the fourth quarter. Cibc World Markets Corp now owns 8,301 shares of the company’s stock worth $2,818,000 after acquiring an additional 1,153 shares in the last quarter. SouthState Corp boosted its position in shares of Snap-on by 1.0% during the fourth quarter. SouthState Corp now owns 22,025 shares of the company’s stock valued at $7,477,000 after buying an additional 221 shares during the period. Signature Wealth Management Group boosted its position in shares of Snap-on by 0.9% during the fourth quarter. Signature Wealth Management Group now owns 4,307 shares of the company’s stock valued at $1,462,000 after buying an additional 39 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Snap-on by 3.5% during the fourth quarter. Corient Private Wealth LLC now owns 22,987 shares of the company’s stock valued at $7,803,000 after buying an additional 783 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SNA shares. Tigress Financial boosted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,220 shares of company stock valued at $6,906,802. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Snap-on stock opened at $331.93 on Monday. The company has a 50 day moving average price of $341.51 and a 200-day moving average price of $330.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a market capitalization of $17.39 billion, a PE ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the firm earned $4.75 earnings per share. As a group, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

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.