Snap-on Incorporated (NYSE:SNA) Stock Position Trimmed by Delphi Management Inc. MA

Delphi Management Inc. MA cut its position in Snap-on Incorporated (NYSE:SNA) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,198 shares of the company’s stock after selling 998 shares during the quarter. Delphi Management Inc. MA’s holdings in Snap-on were worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 69,590 shares in the last quarter. Nordea Investment Management AB raised its position in shares of 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 buying an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,220 shares of company stock valued at $6,906,802 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Snap-on Stock Performance

SNA stock opened at $329.04 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market cap of $17.25 billion, a P/E ratio of 16.87, a P/E/G ratio of 2.21 and a beta of 0.99. The firm has a 50 day simple moving average of $341.41 and a 200 day simple moving average of $330.42. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90.

Snap-on (NYSE:SNA) last posted its quarterly earnings results 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 net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the company earned $4.75 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 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.