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

Claro Advisors LLC trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 15.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,834 shares of the company’s stock after selling 520 shares during the quarter. Claro Advisors LLC’s holdings in Snap-on were worth $962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Pacer Advisors Inc. raised its holdings in shares of Snap-on by 51.2% in the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after buying an additional 280,997 shares during the period. Millennium Management LLC increased its holdings in Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares during the period. Benjamin Edwards Inc. increased its holdings in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the period. International Assets Investment Management LLC increased its holdings in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following 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 position. The disclosure for this sale can be found here. Insiders sold 46,679 shares of company stock valued at $16,222,574 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Up 2.1 %

Shares of NYSE SNA 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. The stock has a market capitalization of $17.83 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The stock’s fifty day simple moving average is $351.60 and its two-hundred day simple moving average is $307.74.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The firm had revenue of $1.15 billion during 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%. As a group, analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a $2.14 dividend. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Analysts Set New Price Targets

SNA has been the topic of several research reports. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.