Claro Advisors LLC Trims Stock Position in Snap-on Incorporated (NYSE:SNA)

Claro Advisors LLC lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,834 shares of the company’s stock after selling 520 shares during the period. Claro Advisors LLC’s holdings in Snap-on were worth $962,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SNA. American Century Companies Inc. raised its stake in shares of Snap-on by 12.2% during the 2nd quarter. American Century Companies Inc. now owns 71,005 shares of the company’s stock valued at $18,560,000 after buying an additional 7,746 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Snap-on by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 17,673 shares of the company’s stock valued at $4,620,000 after buying an additional 69 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Snap-on by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after buying an additional 2,616 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Snap-on by 11.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,280 shares of the company’s stock valued at $596,000 after buying an additional 230 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Snap-on by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial lifted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Trading Up 2.1 %

SNA stock opened at $339.50 on Tuesday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.35 and a beta of 1.00. The business’s 50-day moving average is $351.60 and its 200 day moving average is $307.74.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

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

Insider Transactions at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,679 shares of company stock worth $16,222,574 in the last ninety days. 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.