Farther Finance Advisors LLC Decreases Stake in Snap-on Incorporated (NYSE:SNA)

Farther Finance Advisors LLC decreased its position in Snap-on Incorporated (NYSE:SNA) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,900 shares of the company’s stock after selling 480 shares during the quarter. Farther Finance Advisors LLC’s holdings in Snap-on were worth $645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. Bleakley Financial Group LLC purchased a new position in Snap-on during the 4th quarter valued at about $512,000. Vest Financial LLC grew its stake in shares of Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after acquiring an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares during the last quarter. World Investment Advisors LLC bought a new position in Snap-on in the 3rd quarter worth about $19,291,000. Finally, Avanza Fonder AB purchased a new stake in Snap-on during the 4th quarter valued at about $1,936,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $331.93 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $341.51 and its 200-day moving average price is $329.73. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market cap of $17.39 billion, a PE ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $4.75 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $346.40.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 20,220 shares of company stock worth $6,906,802 over the last quarter. Insiders own 4.10% of the company’s stock.

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.