Hudson Edge Investment Partners Inc. Cuts Stock Position in Snap-on Incorporated (NYSE:SNA)

Hudson Edge Investment Partners Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,984 shares of the company’s stock after selling 1,559 shares during the quarter. Snap-on accounts for approximately 1.3% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 16th biggest position. Hudson Edge Investment Partners Inc.’s holdings in Snap-on were worth $6,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Snap-on by 4.7% in the third quarter. Creative Planning now owns 9,909 shares of the company’s stock valued at $2,871,000 after acquiring an additional 446 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Snap-on by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company’s stock valued at $2,746,000 after purchasing an additional 5,212 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Snap-on in the 3rd quarter valued at approximately $218,000. Private Advisor Group LLC increased its position in Snap-on by 1.5% during the 3rd quarter. Private Advisor Group LLC now owns 9,649 shares of the company’s stock worth $2,795,000 after purchasing an additional 142 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after buying an additional 129,960 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the topic of a number of analyst reports. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $335.87 on Friday. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business’s 50 day simple moving average is $343.79 and its 200-day simple moving average is $323.21. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 quarter in the prior year, the business earned $4.75 EPS. As a group, equities analysts forecast 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 will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s payout ratio is 43.90%.

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.