Legacy Wealth Asset Management LLC Trims Stake in Snap-on Incorporated (NYSE:SNA)

Legacy Wealth Asset Management LLC decreased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 999 shares of the company’s stock after selling 236 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Snap-on were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Snap-on by 1,786.4% during the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after buying an additional 152,631 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after buying an additional 152,428 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after buying an additional 129,960 shares during the period. Finally, Nordea Investment Management AB boosted its position in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after acquiring an additional 127,859 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $348.17 on Friday. The business has a 50-day moving average of $351.33 and a two-hundred day moving average of $310.00. The firm has a market capitalization of $18.28 billion, a PE ratio of 17.92, a P/E/G ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Barrington Research increased their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,929 shares of company stock worth $15,645,074. 4.10% of the stock is currently owned by corporate 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.