Sterling Capital Management LLC Grows Stock Position in Snap-on Incorporated (NYSE:SNA)

Sterling Capital Management LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 54.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,154 shares of the company’s stock after acquiring an additional 1,108 shares during the period. Sterling Capital Management LLC’s holdings in Snap-on were worth $1,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Greenleaf Trust grew its holdings in shares of Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. lifted its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. WCM Investment Management LLC boosted its stake in Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after buying an additional 31 shares during the period. New York Life Investment Management LLC increased its position in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after acquiring an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock valued at $1,148,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of several research reports. 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 report on Tuesday, March 4th. Robert W. Baird dropped their price objective on Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a research note on Tuesday. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Friday, April 11th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and a consensus target price of $355.67.

Snap-on Trading Up 0.1 %

NYSE:SNA opened at $337.31 on Wednesday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The firm has a market cap of $17.68 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $333.12 and a 200 day moving average price of $337.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data 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 firm posted $4.75 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on’s payout ratio is 43.90%.

Insider Transactions at Snap-on

In other news, 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 transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,011 shares of company stock valued at $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.