Liberty One Investment Management LLC Sells 269 Shares of Snap-on Incorporated (NYSE:SNA)

Liberty One Investment Management LLC cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 11.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,085 shares of the company’s stock after selling 269 shares during the period. Liberty One Investment Management LLC’s holdings in Snap-on were worth $708,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 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 valued at $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC increased its stake in Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after buying an additional 152,631 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of 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 buying an additional 152,428 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after buying an additional 129,960 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Snap-on by 12.8% in 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 in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

NYSE SNA opened at $348.17 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $18.28 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm’s 50-day simple moving average is $351.33 and its two-hundred day simple moving average is $310.37.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.46%. Snap-on’s payout ratio is 44.06%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Roth Mkm boosted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,929 shares of company stock valued at $15,645,074. Corporate insiders own 4.10% of the company’s stock.

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.