Snap-on Incorporated (NYSE:SNA) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,040 shares of the company's stock after selling 2,058 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of Snap-on worth $15,623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenleaf Trust grew its position in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after acquiring an additional 30 shares during the last quarter. UMB Bank n.a. lifted its holdings in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares in the last quarter. WCM Investment Management LLC grew its stake in Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after acquiring an additional 31 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock worth $2,412,000 after acquiring an additional 31 shares during the period. Finally, Inspire Advisors LLC boosted its holdings in shares of Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNA. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. 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 report on Tuesday, March 4th. Robert W. Baird lowered their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Finally, StockNews.com downgraded Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Snap-on has a consensus rating of "Hold" and a consensus price target of $350.83.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 have sold 36,011 shares of company stock worth $12,116,859 over the last quarter. 3.90% of the stock is currently owned by insiders.

Snap-on Stock Performance

SNA stock traded down $2.10 during trading on Friday, reaching $308.64. The company had a trading volume of 262,956 shares, compared to its average volume of 357,221. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. 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 twelve month low of $252.98 and a twelve month high of $373.90. The firm has a 50-day simple moving average of $328.13 and a 200-day simple moving average of $338.23.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business earned $4.91 EPS. As a group, sell-side analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.77%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

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.