Mcrae Capital Management Inc. Reduces Holdings in Snap-on Incorporated (NYSE:SNA)

Mcrae Capital Management Inc. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,608 shares of the company’s stock after selling 760 shares during the period. Snap-on comprises about 3.4% of Mcrae Capital Management Inc.’s holdings, making the stock its 12th largest position. Mcrae Capital Management Inc. owned 0.10% of Snap-on worth $17,181,000 at the end of the most recent reporting period.

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

Snap-on Stock Up 1.4 %

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 12 month low of $252.98 and a 12 month high of $373.89. The stock 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 has a 50 day simple moving average of $345.73 and a 200-day simple moving average of $320.72.

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

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.52%. Snap-on’s payout ratio is currently 43.90%.

Insider Buying and Selling at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the company’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 sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction 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 transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,643 shares of company stock valued at $13,580,191. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target 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.