Moran Wealth Management LLC Cuts Position in Snap-on Incorporated (NYSE:SNA)

Moran Wealth Management LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 32,190 shares of the company’s stock after selling 875 shares during the quarter. Moran Wealth Management LLC owned about 0.06% of Snap-on worth $10,928,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on during the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on during the 4th quarter worth $28,000. Brooklyn Investment Group acquired a new stake in Snap-on in the 3rd quarter valued at $39,000. Finally, Private Trust Co. NA increased its holdings in Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $342.36 on Monday. The firm has a 50-day moving average of $342.21 and a two-hundred day moving average of $328.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market cap of $17.94 billion, a P/E ratio of 17.56, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 period in the previous year, the business earned $4.75 EPS. On average, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has an average rating of “Hold” and a consensus price target of $346.40.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by corporate 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.