Snap-on Incorporated (NYSE:SNA) Position Lessened by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,282 shares of the company’s stock after selling 167 shares during the quarter. Financial Advocates Investment Management’s holdings in Snap-on were worth $1,114,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank increased its holdings in shares of Snap-on by 6.8% in the 3rd quarter. Czech National Bank now owns 10,732 shares of the company’s stock worth $3,109,000 after acquiring an additional 685 shares during the period. Brookstone Capital Management raised its holdings in shares of Snap-on by 25.4% during the third quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock valued at $323,000 after buying an additional 226 shares during the last quarter. Jessup Wealth Management Inc acquired a new position in shares of Snap-on during the third quarter worth approximately $282,000. JGP Wealth Management LLC grew its holdings in Snap-on by 4.1% in the 3rd quarter. JGP Wealth Management LLC now owns 3,206 shares of the company’s stock worth $929,000 after buying an additional 127 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Snap-on by 19.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,600 shares of the company’s stock valued at $8,572,000 after acquiring an additional 4,900 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNA. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and set a $360.00 target price on shares of Snap-on in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $347.40.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE SNA opened at $338.05 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $348.45 and a two-hundred day moving average of $318.53. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. During the same quarter in the previous year, the business earned $4.75 earnings per share. As a group, analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

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.