Mutual of America Capital Management LLC Sells 562 Shares of Snap-on Incorporated (NYSE:SNA)

Mutual of America Capital Management LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,297 shares of the company’s stock after selling 562 shares during the period. Mutual of America Capital Management LLC’s holdings in Snap-on were worth $2,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. increased its holdings in shares of Snap-on by 12.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after purchasing an additional 2,542 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Snap-on in the 4th quarter worth $1,203,000. Vision Capital Management Inc. bought a new stake in shares of Snap-on in the 4th quarter worth $2,377,000. Raymond James & Associates increased its holdings in shares of Snap-on by 3.9% in the 4th quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after purchasing an additional 13,225 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Snap-on in the 4th quarter worth $1,736,000. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,368 shares of company stock worth $13,399,449. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNA. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $306.00.

Snap-on Stock Performance

SNA stock opened at $261.76 on Friday. The company has a market cap of $13.83 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $239.08 and a 1 year high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The stock’s fifty day moving average price is $283.65 and its 200-day moving average price is $278.16.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business posted $4.42 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 19.22 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 11th. Investors of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a yield of 2.84%. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

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.