Y Intercept Hong Kong Ltd Sells 349 Shares of Snap-on Incorporated (NYSE:SNA)

Y Intercept Hong Kong Ltd lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,887 shares of the company’s stock after selling 349 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Snap-on were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Allspring Global Investments Holdings LLC raised its holdings in shares of Snap-on by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company’s stock valued at $2,746,000 after acquiring an additional 5,212 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Snap-on by 1.5% during the third quarter. Private Advisor Group LLC now owns 9,649 shares of the company’s stock valued at $2,795,000 after acquiring an additional 142 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 in the last quarter. Ballentine Partners LLC raised its holdings in Snap-on by 13.9% in the third quarter. Ballentine Partners LLC now owns 1,130 shares of the company’s stock worth $327,000 after purchasing an additional 138 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Snap-on by 19.0% in the third quarter. State of Alaska Department of Revenue now owns 15,589 shares of the company’s stock worth $4,515,000 after purchasing an additional 2,485 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

SNA opened at $341.66 on Wednesday. The stock has a fifty day simple moving average of $343.32 and a two-hundred day simple moving average of $324.87. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on (NYSE:SNA) last issued its quarterly 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 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm earned $4.75 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.51%. Snap-on’s payout ratio is presently 43.90%.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock worth $15,906,074 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $345.40.

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.