Snap-on Incorporated (NYSE:SNA) Stock Position Reduced by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE decreased its stake in Snap-on Incorporated (NYSE:SNA) by 53.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,538 shares of the company’s stock after selling 7,615 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Snap-on were worth $2,220,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Snap-on by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after acquiring an additional 19,328 shares in the last quarter. State Street Corp increased its position in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after purchasing an additional 77,486 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNA shares. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $346.40.

Snap-on Stock Up 0.4 %

Shares of Snap-on stock opened at $337.39 on Thursday. 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. The stock has a 50 day moving average price of $340.71 and a two-hundred day moving average price of $332.73. The stock has a market capitalization of $17.69 billion, a P/E ratio of 17.30, a PEG ratio of 2.21 and a beta of 0.99.

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

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate 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.