Snap-on Incorporated (NYSE:SNA) Shares Sold by MMA Asset Management LLC

MMA Asset Management LLC cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 69.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,234 shares of the company’s stock after selling 2,786 shares during the period. MMA Asset Management LLC’s holdings in Snap-on were worth $419,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the fourth quarter valued at about $512,000. Vest Financial LLC grew its stake in shares of Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after acquiring an additional 2,460 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after acquiring an additional 67 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after acquiring an additional 1,605 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Snap-on during the third quarter valued at about $19,291,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock valued at $15,906,074 over the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One research 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 MarketBeat, the company has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Shares of SNA stock opened at $341.00 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company’s 50-day simple moving average is $343.25 and its 200-day simple moving average is $325.92. The stock has a market capitalization of $17.87 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate 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 anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.51%. Snap-on’s dividend payout ratio is currently 43.90%.

Snap-on Company 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.