Snap-on Incorporated (NYSE:SNA) Stake Lessened by Amalgamated Bank

Amalgamated Bank decreased its position in Snap-on Incorporated (NYSE:SNA) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,620 shares of the company’s stock after selling 536 shares during the quarter. Amalgamated Bank’s holdings in Snap-on were worth $5,089,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNA. Royal London Asset Management Ltd. raised its holdings in shares of Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after buying an additional 2,542 shares during the last quarter. Caprock Group LLC bought a new stake in Snap-on during the 4th quarter valued at $1,203,000. Cerity Partners LLC boosted its position in Snap-on by 275.7% during the 4th quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after acquiring an additional 5,825 shares during the period. Vision Capital Management Inc. bought a new position in shares of Snap-on in the fourth quarter worth $2,377,000. Finally, Raymond James & Associates increased its holdings in shares of Snap-on by 3.9% during the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock valued at $102,584,000 after purchasing an additional 13,225 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. Robert W. Baird dropped their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Snap-on has an average rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Trading Up 1.4 %

NYSE:SNA opened at $274.74 on Tuesday. The stock has a market cap of $14.48 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The stock’s 50-day moving average is $284.32 and its two-hundred day moving average is $279.64.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $4.60 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s payout ratio is 39.03%.

Insider Activity

In other news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of Snap-on stock in a transaction on Monday, February 26th. The shares were sold at an average price of $269.35, for a total transaction of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares in the company, valued at $2,333,379.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 49,930 shares of company stock valued at $14,089,523 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Snap-on 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.