Snap-on Incorporated (NYSE:SNA) Shares Sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,608 shares of the company’s stock after selling 760 shares during the quarter. Snap-on makes up 3.4% of Mcrae Capital Management Inc.’s portfolio, making the stock its 12th biggest holding. Mcrae Capital Management Inc.’s holdings in Snap-on were worth $17,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its holdings in Snap-on by 7.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 21,296 shares of the company’s stock valued at $7,316,000 after purchasing an additional 1,400 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Snap-on by 89.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,951 shares of the company’s stock valued at $6,016,000 after buying an additional 8,471 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in shares of Snap-on by 11.1% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 770 shares of the company’s stock valued at $261,000 after buying an additional 77 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Snap-on during the fourth quarter worth approximately $86,000. Finally, Savant Capital LLC boosted its position in Snap-on by 13.4% during the fourth quarter. Savant Capital LLC now owns 1,748 shares of the company’s stock worth $593,000 after acquiring an additional 206 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock valued at $13,580,191 in the last quarter. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $339.73 on Friday. 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 Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The firm has a market capitalization of $17.84 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.13 and a beta of 0.99. The business’s 50-day simple moving average is $345.73 and its 200-day simple moving average is $320.72.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business earned $4.75 EPS. Equities analysts predict that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s payout ratio is 43.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Roth Mkm boosted their target price 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. 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. According to data from MarketBeat, Snap-on has an average rating of “Hold” and a consensus price target of $345.40.

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.