Foundations Investment Advisors LLC Sells 66 Shares of Snap-on Incorporated (NYSE:SNA)

Foundations Investment Advisors LLC decreased its stake in Snap-on Incorporated (NYSE:SNA) by 8.8% during the 4th quarter, HoldingsChannel reports. The fund owned 686 shares of the company’s stock after selling 66 shares during the period. Foundations Investment Advisors LLC’s holdings in Snap-on were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after buying an additional 56,266 shares in the last quarter. Geode Capital Management LLC increased its stake in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after acquiring an additional 69,590 shares during the period. Nordea Investment Management AB raised its holdings in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after acquiring an additional 78,184 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction 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. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated 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 transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,192 shares of company stock worth $11,400,978 in the last three months. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 1.0 %

Shares of SNA stock opened at $355.10 on Friday. 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 company has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.22 and a beta of 1.00. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The firm has a 50-day moving average price of $349.97 and a 200 day moving average price of $316.38.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNA shares. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

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.