Snap-on Incorporated (NYSE:SNA) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. lessened its stake in Snap-on Incorporated (NYSE:SNA) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,911 shares of the company’s stock after selling 847 shares during the period. Capital Fund Management S.A.’s holdings in Snap-on were worth $6,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Raymond James Financial Inc. acquired a new stake in shares of Snap-on in the fourth quarter valued at $148,839,000. Norges Bank acquired a new position in Snap-on in the 4th quarter valued at about $145,342,000. Proficio Capital Partners LLC purchased a new stake in Snap-on during the fourth quarter worth about $57,738,000. Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% during the fourth 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 in the last quarter. Finally, Amundi boosted its stake in shares of Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after purchasing an additional 116,319 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research reports. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.33.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’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 transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is owned by corporate insiders.

Snap-on Price Performance

Shares of SNA opened at $336.50 on Friday. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.21 and a beta of 0.84. The firm’s fifty day simple moving average is $333.58 and its 200-day simple moving average is $336.83. Snap-on Incorporated has a twelve month low of $252.98 and a twelve 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.

Snap-on (NYSE:SNA) last posted its quarterly 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 return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the firm earned $4.75 EPS. Equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.54%. 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.