Prudential Financial Inc. Sells 21,087 Shares of Snap-on Incorporated (NYSE:SNA)

Prudential Financial Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 43.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,508 shares of the company’s stock after selling 21,087 shares during the period. Prudential Financial Inc.’s holdings in Snap-on were worth $9,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenleaf Trust boosted its stake in Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. lifted its holdings in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock valued at $247,000 after acquiring an additional 31 shares during the period. New York Life Investment Management LLC grew its stake in shares of Snap-on by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after acquiring an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after acquiring an additional 34 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SNA shares. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $346.40.

Snap-on Stock Down 1.9 %

SNA opened at $329.09 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a market capitalization of $17.25 billion, a P/E ratio of 16.88, 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. The firm’s fifty day moving average price is $340.12 and its two-hundred day moving average price is $333.51.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 quarter last year, the company posted $4.75 EPS. On average, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

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

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 in the last 90 days. 3.90% of the stock is owned by company insiders.

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.