Empowered Funds LLC Sells 37,394 Shares of Snap-on Incorporated (NYSE:SNA)

Empowered Funds LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 59.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,243 shares of the company’s stock after selling 37,394 shares during the period. Empowered Funds LLC’s holdings in Snap-on were worth $8,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. UMB Bank n.a. grew its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the fourth quarter worth about $28,000. Reston Wealth Management LLC acquired a new stake in Snap-on during the third quarter worth about $30,000. Brooklyn Investment Group bought a new position in Snap-on in the 3rd quarter valued at about $39,000. Finally, nVerses Capital LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at approximately $58,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Down 0.5 %

Shares of SNA opened at $338.05 on Monday. The company has a market capitalization of $17.75 billion, a PE ratio of 17.34, a PEG ratio of 2.13 and a beta of 0.99. The stock’s 50-day moving average price is $347.82 and its two-hundred day moving average price is $319.63. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 period in the previous year, the firm earned $4.75 EPS. On average, analysts anticipate that Snap-on Incorporated will post 20.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Snap-on in a research note on Monday, February 3rd. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $347.40.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on 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 owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is currently owned by insiders.

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.