Cardinal Capital Management Sells 30 Shares of Snap-on Incorporated (NYSE:SNA)

Cardinal Capital Management reduced its position in Snap-on Incorporated (NYSE:SNA) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,850 shares of the company’s stock after selling 30 shares during the period. Cardinal Capital Management’s holdings in Snap-on were worth $3,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its position in Snap-on by 2,691.2% in the third 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 last quarter. International Assets Investment Management LLC boosted its position in shares of Snap-on by 34,381.0% in the third 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. Nordea Investment Management AB raised its holdings in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, 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. In the last 90 days, insiders have sold 38,643 shares of company stock valued at $13,580,191. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SNA shares. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Finally, Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Trading Down 0.2 %

Shares of SNA opened at $339.12 on Tuesday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. The company’s fifty day moving average is $345.04 and its 200 day moving average is $322.05. The stock has a market capitalization of $17.81 billion, a PE ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business posted $4.75 EPS. Sell-side analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 43.90%.

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.