Empowered Funds LLC Has $8.57 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Empowered Funds LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 59.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,243 shares of the company’s stock after selling 37,394 shares during the quarter. Empowered Funds LLC’s holdings in Snap-on were worth $8,569,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the 4th quarter worth about $28,000. Reston Wealth Management LLC acquired a new stake in shares of Snap-on in the 3rd quarter valued at about $30,000. Brooklyn Investment Group bought a new stake in shares of Snap-on in the third quarter valued at about $39,000. Finally, nVerses Capital LLC acquired a new position in shares of Snap-on during the third quarter worth about $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Snap-on in a report on Monday, February 3rd. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $347.40.

Snap-on Stock Performance

Shares of SNA stock opened at $338.05 on Monday. The company has a fifty day moving average price of $347.82 and a two-hundred day moving average price of $319.63. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The stock has a market cap of $17.75 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last issued its earnings results 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 net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company posted $4.75 earnings per share. As a group, equities analysts predict that Snap-on Incorporated will post 20.07 EPS for the current year.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 over the last three months. Insiders own 4.10% of the company’s stock.

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.