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

Gallacher Capital Management LLC decreased its holdings in Snap-on Incorporated (NYSE:SNAFree Report) 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:SNAGet Free Report) 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.

Get Our Latest Stock Report on SNA

Snap-on Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNAFree Report).

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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