Hudson Edge Investment Partners Inc. Lowers Holdings in Snap-on Incorporated (NYSE:SNA)

Hudson Edge Investment Partners Inc. reduced its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,984 shares of the company’s stock after selling 1,559 shares during the period. Snap-on comprises 1.3% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 16th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Snap-on were worth $6,784,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC purchased a new stake in shares of Snap-on during the fourth quarter worth $512,000. Vest Financial LLC increased its holdings in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after purchasing an additional 2,460 shares during the period. Asset Management One Co. Ltd. raised its position in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Snap-on in the 3rd quarter valued at about $19,291,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred 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 owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,503 shares of company stock valued at $15,906,074. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Shares of Snap-on stock opened at $335.87 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm’s 50 day moving average is $343.79 and its two-hundred day moving average is $323.21. The firm has a market capitalization of $17.60 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its 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 in the prior year, the business posted $4.75 EPS. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

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.