Riverbridge Partners LLC Sells 788 Shares of Snap-on Incorporated (NYSE:SNA)

Riverbridge Partners LLC cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 8,489 shares of the company’s stock after selling 788 shares during the period. Riverbridge Partners LLC’s holdings in Snap-on were worth $2,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised 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 buying an additional 31 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Snap-on in the third quarter worth about $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the period. Brooklyn Investment Group bought a new position in shares of Snap-on in the 3rd quarter valued at about $39,000. Finally, Quarry LP boosted its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock valued at $15,645,074 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNA has been the topic of several analyst reports. Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird raised 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. Tigress Financial upped 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. Finally, Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Down 0.7 %

Shares of SNA stock opened at $351.70 on Thursday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $350.74 and a 200-day moving average of $312.37. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.23 and a beta of 1.00.

Snap-on Increases Dividend

The company also recently announced 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 2.43%. The ex-dividend date was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is 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.