Flputnam Investment Management Co. Trims Stake in Snap-on Incorporated (NYSE:SNA)

Flputnam Investment Management Co. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,868 shares of the company’s stock after selling 90 shares during the quarter. Flputnam Investment Management Co.’s holdings in Snap-on were worth $3,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Snap-on in the fourth quarter worth about $57,738,000. Benjamin Edwards Inc. increased its holdings in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after acquiring an additional 152,428 shares in the last quarter. Nordea Investment Management AB raised its stake in Snap-on by 12.8% during the 4th 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 period. Bryn Mawr Capital Management LLC lifted its holdings in Snap-on by 706.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock valued at $38,474,000 after purchasing an additional 99,276 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Snap-on by 45.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Up 1.2 %

SNA stock opened at $341.00 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business has a 50 day simple moving average of $343.25 and a two-hundred day simple moving average of $325.92. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business earned $4.75 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.51%. Snap-on’s payout ratio is 43.90%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were 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. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is currently owned by 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.