GHP Investment Advisors Inc. Trims Position in Snap-on Incorporated (NYSE:SNA)

GHP Investment Advisors Inc. lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,246 shares of the company’s stock after selling 41 shares during the period. GHP Investment Advisors Inc.’s holdings in Snap-on were worth $9,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Aurora Investment Counsel grew its stake in shares of Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. grew its position in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares during the period. Finally, Metis Global Partners LLC raised its position in Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of several analyst reports. Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research reissued an “outperform” rating and issued a $360.00 price target on shares of Snap-on in a report on Monday. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. 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 company’s stock. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and a consensus price target of $347.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $357.61 on Thursday. The firm has a market capitalization of $18.78 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. 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’s 50 day simple moving average is $349.05 and its 200-day simple moving average is $318.38. 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 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same period last year, the business earned $4.75 EPS. As a group, equities analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were 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 in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

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.