Wells Fargo & Company MN Sells 17,048 Shares of Snap-on Incorporated (NYSE:SNA)

Wells Fargo & Company MN lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,987 shares of the company’s stock after selling 17,048 shares during the quarter. Wells Fargo & Company MN owned about 0.32% of Snap-on worth $56,349,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $148,839,000. Norges Bank bought a new stake in Snap-on in the 4th quarter valued at $145,342,000. Proficio Capital Partners LLC bought a new position in shares of Snap-on during the 4th quarter valued at about $57,738,000. Nordea Investment Management AB grew its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Amundi increased its holdings in shares of Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock worth $68,039,000 after purchasing an additional 116,319 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This 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.

Analyst Ratings Changes

Several equities analysts have weighed in on SNA shares. Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. 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 report on Monday, March 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $355.33.

Snap-on Stock Down 0.5 %

NYSE SNA opened at $309.07 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.21 and a beta of 0.84. The company has a fifty day moving average of $335.64 and a two-hundred day moving average of $335.92.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 quarter in the previous year, the firm posted $4.75 earnings per share. On average, analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.77%. Snap-on’s payout ratio is 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.