Glenview Trust co Sells 176 Shares of Snap-on Incorporated (NYSE:SNA)

Glenview Trust co reduced its stake in Snap-on Incorporated (NYSE:SNA) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,802 shares of the company’s stock after selling 176 shares during the period. Glenview Trust co’s holdings in Snap-on were worth $612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its position in shares of Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares during the period. Geode Capital Management LLC raised its stake in Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after buying an additional 69,590 shares during the period. 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 buying an additional 127,859 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNA. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Performance

SNA opened at $329.04 on Tuesday. The business’s 50-day moving average price is $341.41 and its two-hundred day moving average price is $330.42. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 2.21 and a beta of 0.99. 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 (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the business posted $4.75 EPS. Equities analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated 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 owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,220 shares of company stock worth $6,906,802 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

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.