Snap-on Incorporated (NYSE:SNA) Position Trimmed by Gallacher Capital Management LLC

Gallacher Capital Management LLC decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,584 shares of the company’s stock after selling 66 shares during the period. Gallacher Capital Management LLC’s holdings in Snap-on were worth $877,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SNA. Aurora Investment Counsel boosted its position in Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the last quarter. Greenleaf Trust raised its stake 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 in the last quarter. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,220 shares of company stock worth $6,906,802. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Up 2.4 %

Shares of SNA stock opened at $331.93 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock’s 50 day simple moving average is $341.51 and its 200 day simple moving average is $329.73.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 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 business earned $4.75 EPS. As a group, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.58%. Snap-on’s payout ratio is presently 43.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNA shares. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $346.40.

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.