Snap-on Incorporated (NYSE:SNA) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 40.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,326 shares of the company’s stock after selling 4,926 shares during the period. Manning & Napier Advisors LLC’s holdings in Snap-on were worth $2,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Aurora Investment Counsel increased its holdings in shares of Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. boosted its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Lake Street Advisors Group LLC boosted its position in Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after purchasing an additional 32 shares during the period. Metis Global Partners LLC boosted its position in Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares during the period. Finally, Tradition Wealth Management LLC boosted its position in Snap-on by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after purchasing an additional 35 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Snap-on Stock Performance

NYSE:SNA opened at $358.34 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a 50-day moving average of $350.18 and a two-hundred day moving average of $315.80. The stock has a market cap of $18.82 billion, a P/E ratio of 18.44, a PEG ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,192 shares of company stock worth $11,400,978. Corporate insiders own 4.10% of the company’s stock.

Snap-on 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.