Ameriprise Financial Inc. Sells 27,738 Shares of Snap-On Incorporated $SNA

Ameriprise Financial Inc. trimmed its position in Snap-On Incorporated (NYSE:SNA) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,208 shares of the company’s stock after selling 27,738 shares during the quarter. Ameriprise Financial Inc. owned about 1.49% of Snap-On worth $267,941,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares during the period. Quent Capital LLC bought a new stake in Snap-On during the third quarter valued at about $36,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-On in the second quarter valued at about $37,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Snap-On in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

NYSE:SNA opened at $369.50 on Tuesday. The business’s 50-day moving average is $373.16 and its 200 day moving average is $351.76. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The company has a market capitalization of $19.18 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.54 and a beta of 0.78. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.82 EPS. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a $2.44 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the sale, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares in the company, valued at approximately $1,128,991.41. The trade was a 32.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,650 shares of company stock worth $15,210,959. Company insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNA. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Tigress Financial boosted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Roth Mkm reaffirmed a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.