Prosperity Consulting Group LLC Sells 819 Shares of Snap-on Incorporated (NYSE:SNA)

Prosperity Consulting Group LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,613 shares of the company's stock after selling 819 shares during the period. Prosperity Consulting Group LLC's holdings in Snap-on were worth $4,961,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SNA. Johnson Financial Group Inc. increased its position in shares of Snap-on by 3.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,916 shares of the company's stock valued at $1,036,000 after acquiring an additional 110 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Snap-on by 9.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,984 shares of the company's stock valued at $1,013,000 after purchasing an additional 268 shares in the last quarter. MGO One Seven LLC boosted its stake in shares of Snap-on by 36.6% during the fourth quarter. MGO One Seven LLC now owns 1,419 shares of the company's stock valued at $482,000 after purchasing an additional 380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Snap-on by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,308 shares of the company's stock worth $25,567,000 after acquiring an additional 770 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Snap-on by 19.1% in the fourth quarter. Hsbc Holdings PLC now owns 498,626 shares of the company's stock worth $169,302,000 after acquiring an additional 79,791 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SNA shares. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Thursday, April 17th. 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 note 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 on the stock in a research report on Monday, April 21st. StockNews.com cut shares of Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $350.83.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company's stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last three months. Insiders own 3.90% of the company's stock.

Snap-on Trading Down 0.5 %

NYSE SNA traded down $1.65 during trading on Thursday, hitting $312.16. The company had a trading volume of 151,716 shares, compared to its average volume of 434,162. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company's fifty day moving average is $326.47 and its 200-day moving average is $338.70.

Snap-on (NYSE:SNA - Get Free Report) last released 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). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the business posted $4.91 earnings per share. On average, sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.74%. Snap-on's payout ratio is 44.82%.

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.