Boston Research & Management Inc. Sells 68 Shares of Snap-on Incorporated (NYSE:SNA)

Boston Research & Management Inc. cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,791 shares of the company’s stock after selling 68 shares during the period. Snap-on accounts for 1.6% of Boston Research & Management Inc.’s holdings, making the stock its 23rd biggest holding. Boston Research & Management Inc.’s holdings in Snap-on were worth $6,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. Cerity Partners LLC boosted its position in Snap-on by 103.5% during the 3rd quarter. Cerity Partners LLC now owns 8,156 shares of the company’s stock valued at $2,363,000 after acquiring an additional 4,149 shares in the last quarter. Private Trust Co. NA grew its stake in Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Snap-on by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company’s stock valued at $12,742,000 after purchasing an additional 273 shares during the last quarter. FMR LLC lifted its position in shares of Snap-on by 16.3% during the third quarter. FMR LLC now owns 57,543 shares of the company’s stock valued at $16,671,000 after buying an additional 8,073 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Snap-on by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock valued at $675,000 after buying an additional 300 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $346.40.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 1.9 %

Shares of Snap-on stock opened at $329.09 on Monday. The stock has a market cap of $17.25 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a fifty day moving average price of $340.12 and a 200 day moving average price of $333.92. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the firm posted $4.75 earnings per share. Equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. Snap-on’s payout ratio 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.