Allspring Global Investments Holdings LLC Sells 1,093 Shares of Snap-on Incorporated (NYSE:SNA)

Allspring Global Investments Holdings LLC decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 21.6% during the fourth quarter, HoldingsChannel reports. The fund owned 3,959 shares of the company’s stock after selling 1,093 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Snap-on were worth $1,144,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SNA. BKM Wealth Management LLC bought a new position in shares of Snap-on in the fourth quarter worth about $33,000. Exchange Traded Concepts LLC bought a new position in shares of Snap-on in the fourth quarter worth about $43,000. Peoples Bank KS bought a new position in shares of Snap-on in the third quarter worth about $40,000. Fortitude Family Office LLC bought a new position in shares of Snap-on in the fourth quarter worth about $49,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Snap-on in the fourth quarter worth about $53,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Thursday, April 18th. Tigress Financial restated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Finally, Robert W. Baird lowered their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Stock Up 1.0 %

NYSE:SNA opened at $271.30 on Wednesday. The firm has a market cap of $14.30 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. The company has a 50-day moving average of $283.80 and a 200 day moving average of $278.68. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.60 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 19.24 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, February 23rd. Snap-on’s payout ratio is 39.03%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,368 shares of company stock valued at $13,399,449. 4.10% of the stock is currently owned by insiders.

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.