Snap-on Incorporated (NYSE:SNA) Holdings Trimmed by Prudential Financial Inc.

Prudential Financial Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 43.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,508 shares of the company’s stock after selling 21,087 shares during the period. Prudential Financial Inc. owned about 0.05% of Snap-on worth $9,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bleakley Financial Group LLC acquired a new position in Snap-on in the fourth quarter worth approximately $512,000. Vest Financial LLC grew its holdings in shares of Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after acquiring an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Snap-on during the third quarter valued at $19,291,000. Finally, Avanza Fonder AB acquired a new position in shares of Snap-on in the 4th quarter valued at $1,936,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of SNA opened at $329.09 on Friday. The business’s 50-day moving average is $340.12 and its 200-day moving average is $333.51. 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 company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings data 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 net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the firm posted $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.60%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 in the last three months. Insiders own 3.90% of the company’s stock.

About Snap-on

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.