Sigma Planning Corp Sells 1,543 Shares of Snap-on Incorporated (NYSE:SNA)

Sigma Planning Corp reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 56.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,212 shares of the company’s stock after selling 1,543 shares during the quarter. Sigma Planning Corp’s holdings in Snap-on were worth $350,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. raised its stake in Snap-on by 12.7% during the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after buying an additional 2,542 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Snap-on in the fourth quarter worth $1,203,000. Cerity Partners LLC raised its stake in shares of Snap-on by 275.7% in the fourth quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock worth $2,292,000 after purchasing an additional 5,825 shares during the last quarter. Vision Capital Management Inc. bought a new stake in shares of Snap-on in the fourth quarter worth $2,377,000. Finally, Raymond James & Associates grew its holdings in shares of Snap-on by 3.9% in the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock worth $102,584,000 after acquiring an additional 13,225 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of Snap-on stock opened at $270.70 on Friday. The stock’s 50-day simple moving average is $284.28 and its 200-day simple moving average is $278.74. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.87 and a beta of 0.99. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $4.60 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. Snap-on’s payout ratio is 39.03%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold 49,930 shares of company stock worth $14,089,523 over the last ninety days. 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.