Aviva PLC Sells 595 Shares of Snap-on Incorporated (NYSE:SNA)

Aviva PLC reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,652 shares of the company’s stock after selling 595 shares during the quarter. Aviva PLC’s holdings in Snap-on were worth $1,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. UMB Bank n.a. raised its holdings in 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in Snap-on during the 4th quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the 4th quarter worth about $28,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-on in the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC increased its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research note on Monday, March 31st. 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 stock. Based on data from MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and a consensus price target of $355.33.

Snap-on Price Performance

Shares of SNA opened at $329.77 on Thursday. 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 has a 50 day simple moving average of $334.56 and a 200 day simple moving average of $336.19. 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 $17.29 billion, a PE ratio of 16.91, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the firm posted $4.75 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s 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 owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 in the last quarter. 3.90% of the stock is currently owned by insiders.

Snap-on Company 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.