Cresset Asset Management LLC Reduces Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Cresset Asset Management LLC decreased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 72.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,102 shares of the company's stock after selling 8,148 shares during the period. Cresset Asset Management LLC's holdings in Snap-on were worth $1,053,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SNA. Raymond James Financial Inc. purchased a new position in Snap-on in the fourth quarter valued at approximately $148,839,000. Norges Bank purchased a new position in Snap-on in the fourth quarter valued at approximately $145,342,000. First Trust Advisors LP lifted its stake in Snap-on by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after purchasing an additional 411,317 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Snap-on in the fourth quarter valued at approximately $57,738,000. Finally, Northern Trust Corp raised its holdings in Snap-on by 22.4% during the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after acquiring an additional 145,861 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of a number of analyst reports. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Robert W. Baird lowered their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. StockNews.com raised shares of Snap-on from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. Finally, 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 report on Tuesday, March 4th. 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.com, Snap-on currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-on Trading Down 0.4%

Shares of SNA stock opened at $315.63 on Monday. 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 52-week low of $252.98 and a 52-week high of $373.90. The company has a market capitalization of $16.50 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The business's fifty day moving average is $323.38 and its 200 day moving average is $338.95.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the business posted $4.91 EPS. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

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

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company'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 completion of the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Snap-on Company 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.

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