Freedom Investment Management Inc. Sells 518 Shares of Snap-on Incorporated (NYSE:SNA)

Freedom Investment Management Inc. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,302 shares of the company’s stock after selling 518 shares during the quarter. Freedom Investment Management Inc.’s holdings in Snap-on were worth $1,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth $28,000. CoreFirst Bank & Trust bought a new stake in Snap-on in the fourth quarter valued at $40,000. Finally, TCTC Holdings LLC increased its position in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of NYSE SNA opened at $305.16 on Friday. 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 simple moving average of $331.66 and a two-hundred day simple moving average of $337.68. 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 $16.00 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.91 EPS. Analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.81%. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SNA. Robert W. Baird dropped their target price on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a research report on Tuesday. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday, March 31st. StockNews.com downgraded Snap-on from a “buy” rating to a “hold” rating in a report on Friday. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $355.67.

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.