Confluence Investment Management LLC Has $180.08 Million Position in Snap-on Incorporated (NYSE:SNA)

Confluence Investment Management LLC reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 530,445 shares of the company’s stock after selling 14,465 shares during the quarter. Snap-on comprises 2.5% of Confluence Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Confluence Investment Management LLC’s holdings in Snap-on were worth $180,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Aurora Investment Counsel raised its stake in shares of Snap-on by 0.9% in the 3rd 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. Lake Street Advisors Group LLC raised its position 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 purchasing an additional 32 shares during the period. Metis Global Partners LLC lifted its stake in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares during the last quarter. Tradition Wealth Management LLC boosted its holdings in shares of Snap-on by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after buying an additional 35 shares during the period. Finally, Verdence Capital Advisors LLC grew its stake in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SNA shares. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $345.40.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction 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 approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. This trade represents a 35.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,723 shares of company stock worth $18,029,670. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock traded down $1.12 during mid-day trading on Thursday, reaching $338.36. The stock had a trading volume of 47,692 shares, compared to its average volume of 318,745. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The firm has a market cap of $17.77 billion, a PE ratio of 17.41, a P/E/G ratio of 2.35 and a beta of 0.98. The firm’s 50 day simple moving average is $350.91 and its 200 day simple moving average is $304.10. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.53%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

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.