Envestnet Asset Management Inc. Has $257.81 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Envestnet Asset Management Inc. grew its holdings in Snap-on Incorporated (NYSE:SNA) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 759,429 shares of the company’s stock after acquiring an additional 15,591 shares during the quarter. Envestnet Asset Management Inc. owned 1.45% of Snap-on worth $257,811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC lifted its position in Snap-on by 16.3% during the 3rd quarter. FMR LLC now owns 57,543 shares of the company’s stock worth $16,671,000 after buying an additional 8,073 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Snap-on by 14.8% during the third quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock worth $675,000 after acquiring an additional 300 shares in the last quarter. HighTower Advisors LLC boosted its position in Snap-on by 3.8% during the third quarter. HighTower Advisors LLC now owns 48,220 shares of the company’s stock valued at $13,967,000 after purchasing an additional 1,779 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Snap-on by 220.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock valued at $787,000 after purchasing an additional 1,869 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Snap-on by 2.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 23,247 shares of the company’s stock worth $6,735,000 after purchasing an additional 597 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Stock Performance

NYSE SNA opened at $314.98 on Friday. The stock has a market cap of $16.51 billion, a PE ratio of 16.15, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm has a 50-day moving average of $338.24 and a 200-day moving average of $335.37. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

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, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $4.75 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.33.

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.