Tidal Investments LLC Sells 5,653 Shares of Snap-on Incorporated (NYSE:SNA)

Tidal Investments LLC lowered its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 35.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,287 shares of the company's stock after selling 5,653 shares during the period. Tidal Investments LLC's holdings in Snap-on were worth $3,492,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Snap-on during the fourth quarter valued at $148,839,000. Norges Bank purchased a new position in Snap-on during the fourth quarter valued at $145,342,000. First Trust Advisors LP lifted its position 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 valued at $617,651,000 after purchasing an additional 411,317 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Snap-on during the fourth quarter valued at $57,738,000. Finally, Northern Trust Corp lifted its position in Snap-on by 22.4% during the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after purchasing an additional 145,861 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a 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 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 sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Snap-on Price Performance

Shares of SNA opened at $322.23 on Thursday. The business's 50-day moving average is $322.47 and its two-hundred day moving average is $338.65. The company has a market capitalization of $16.85 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.21 and a beta of 0.78. 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 fifty-two week low of $252.98 and a fifty-two week 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 (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. 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 posted $4.91 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current 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 is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.66%. Snap-on's payout ratio is 44.82%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNA. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday. StockNews.com upgraded Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird lowered their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Finally, Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Snap-on currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

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.

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