Snap-on Incorporated (NYSE:SNA) Position Cut by Stifel Financial Corp

Stifel Financial Corp reduced its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,907 shares of the company's stock after selling 14,765 shares during the period. Stifel Financial Corp owned approximately 0.74% of Snap-on worth $131,693,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Greenleaf Trust raised its holdings in Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. raised its holdings in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC raised its holdings in Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock valued at $247,000 after buying an additional 31 shares during the period. New York Life Investment Management LLC raised its holdings in Snap-on by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares during the period. Finally, Inspire Advisors LLC grew its position in 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 acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SNA shares. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Thursday, April 17th. StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Tigress Financial increased their price objective 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. Finally, Robert W. Baird lowered their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $350.83.

Snap-on Stock Down 0.7 %

Shares of SNA stock traded down $2.10 during mid-day trading on Friday, reaching $308.64. 262,956 shares of the company were exchanged, compared to its average volume of 357,703. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $16.14 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.21 and a beta of 0.84. The business's 50 day simple moving average is $328.13 and its 200 day simple moving average is $338.95.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.91 EPS. Research 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, May 20th. Snap-on's dividend payout ratio is presently 44.82%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was 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 of the company's stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 over the last 90 days. 3.90% of the stock is owned by company insiders.

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.