Chevy Chase Trust Holdings LLC Sells 1,096 Shares of Snap-on Incorporated (NYSE:SNA)

Chevy Chase Trust Holdings LLC cut its holdings in Snap-on Incorporated (NYSE:SNA) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,066 shares of the company’s stock after selling 1,096 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.11% of Snap-on worth $19,033,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Aurora Investment Counsel grew its holdings in shares of Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after acquiring an additional 30 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Snap-on by 3.1% in the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after acquiring an additional 32 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Trading Down 0.2 %

NYSE:SNA opened at $339.12 on Friday. The company has a market cap of $17.81 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99. The stock’s fifty day moving average price is $345.36 and its two-hundred day moving average price is $321.38. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 quarter in the prior year, the company earned $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. Snap-on’s dividend payout ratio is currently 43.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. 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. Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,643 shares of company stock worth $13,580,191 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

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.