Rockland Trust Co. Sells 210 Shares of Snap-on Incorporated (NYSE:SNA)

Rockland Trust Co. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,186 shares of the company’s stock after selling 210 shares during the period. Rockland Trust Co.’s holdings in Snap-on were worth $1,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its position in Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after buying an additional 152,631 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after buying an additional 152,428 shares in the last quarter. International Assets Investment Management LLC grew its position in Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after acquiring an additional 129,960 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake 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 acquiring an additional 127,859 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Up 0.2 %

SNA opened at $339.73 on Wednesday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The business has a 50 day simple moving average of $351.87 and a two-hundred day simple moving average of $308.86. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.35 and a beta of 1.00.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is currently 44.06%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SNA shares. Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. One equities research 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $345.40.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,679 shares of company stock valued at $16,222,574 over the last three months. Corporate insiders own 4.10% of the company’s stock.

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.