D.A. Davidson & CO. Lowers Stake in Snap-on Incorporated (NYSE:SNA)

D.A. Davidson & CO. lessened its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,375 shares of the company’s stock after selling 316 shares during the quarter. D.A. Davidson & CO.’s holdings in Snap-on were worth $1,825,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its stake in shares of Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after purchasing an additional 78,184 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average price target of $345.40.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock worth $15,906,074 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Snap-on Trading Down 0.8 %

NYSE:SNA opened at $335.87 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The business’s 50-day simple moving average is $343.79 and its 200 day simple moving average is $323.56. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

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

Snap-on Dividend Announcement

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

About Snap-on

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.