iA Global Asset Management Inc. Sells 1,580 Shares of Snap-on Incorporated (NYSE:SNA)

iA Global Asset Management Inc. reduced its position in Snap-on Incorporated (NYSE:SNA) by 21.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,708 shares of the company’s stock after selling 1,580 shares during the period. iA Global Asset Management Inc.’s holdings in Snap-on were worth $1,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in 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 acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on in the 4th quarter valued at about $28,000. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter valued at about $39,000. Finally, TCTC Holdings LLC grew its holdings in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the 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 in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 0.7 %

Shares of NYSE SNA opened at $327.59 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. 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. The business has a 50-day moving average of $340.99 and a 200-day moving average of $331.05.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the business earned $4.75 earnings per share. Sell-side analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Analyst Ratings Changes

A number of research analysts have weighed in on SNA shares. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, Snap-on presently has an average rating of “Hold” and an average price target of $346.40.

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.