Ameriprise Financial Inc. Sells 13,085 Shares of Snap-on Incorporated (NYSE:SNA)

Ameriprise Financial Inc. decreased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,949 shares of the company's stock after selling 13,085 shares during the period. Ameriprise Financial Inc. owned 0.84% of Snap-on worth $150,033,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SNA. Raymond James Financial Inc. acquired a new position in Snap-on during the fourth quarter worth about $148,839,000. Norges Bank bought a new stake in shares of Snap-on in the 4th quarter worth approximately $145,342,000. First Trust Advisors LP boosted its holdings in Snap-on by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Snap-on in the fourth quarter worth approximately $57,738,000. Finally, Northern Trust Corp increased its holdings in shares of Snap-on by 22.4% in the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after buying an additional 145,861 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Price Performance

Snap-on stock traded down $1.32 during trading hours on Friday, hitting $315.63. 158,547 shares of the stock were exchanged, compared to its average volume of 361,067. The stock has a market capitalization of $16.50 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.21 and a beta of 0.78. The business's 50-day moving average is $323.38 and its two-hundred day moving average is $338.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. 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 $4.91 EPS. Equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of analyst reports. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Tigress Financial boosted 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. StockNews.com raised Snap-on from a "hold" rating to a "buy" rating in a research report on Wednesday. Robert W. Baird reduced their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is currently owned by company 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.