Dearborn Partners LLC Has $45.29 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Dearborn Partners LLC lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 133,402 shares of the company’s stock after selling 1,421 shares during the period. Snap-on comprises approximately 1.9% of Dearborn Partners LLC’s holdings, making the stock its 7th largest holding. Dearborn Partners LLC’s holdings in Snap-on were worth $45,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the 4th quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter valued at approximately $39,000. Finally, Asset Planning Inc acquired a new position in Snap-on during the 4th quarter worth approximately $68,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,220 shares of company stock worth $6,906,802. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SNA shares. Tigress Financial lifted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target 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 issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Down 0.6 %

NYSE:SNA opened at $340.01 on Tuesday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $342.21 and its two-hundred day moving average price is $328.33.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 prior year, the business earned $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s payout ratio is 43.90%.

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.