Arete Wealth Advisors LLC Decreases Stock Position in Snap-on Incorporated (NYSE:SNA)

Arete Wealth Advisors LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,336 shares of the company’s stock after selling 76 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Snap-on were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after purchasing an additional 19,328 shares during the period. State Street Corp boosted its position in shares of Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after buying an additional 77,486 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after buying an additional 27,700 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after acquiring an additional 127,859 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday, March 31st. One investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $355.33.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Stock Performance

SNA stock opened at $314.98 on Friday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The business has a 50-day moving average price of $338.24 and a 200 day moving average price of $335.37. The company has a market capitalization of $16.51 billion, a P/E ratio of 16.15, a PEG ratio of 2.21 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 3.17.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 previous year, the firm posted $4.75 earnings per share. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.72%. Snap-on’s dividend payout ratio (DPR) is presently 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.