Xponance Inc. Cuts Stake in Snap-on Incorporated (NYSE:SNA)

Xponance Inc. cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,033 shares of the company’s stock after selling 50 shares during the quarter. Xponance Inc.’s holdings in Snap-on were worth $2,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Greenleaf Trust raised its position in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. increased 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 worth $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC boosted its holdings in Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the period. New York Life Investment Management LLC boosted its holdings in Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after acquiring an additional 31 shares during the period. Finally, Inspire Advisors LLC increased its stake in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

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

Snap-on Stock Performance

Shares of SNA stock opened at $327.59 on Friday. 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 has a fifty day moving average of $340.99 and a 200 day moving average of $331.05. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90.

Snap-on (NYSE:SNA) last announced its 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 last year, the business posted $4.75 EPS. As a group, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. 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 2.61%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNA shares. Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One 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. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and an average price target of $346.40.

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.