Desjardins Global Asset Management Inc. Sells 165 Shares of Snap-on Incorporated (NYSE:SNA)

Desjardins Global Asset Management Inc. lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,123 shares of the company’s stock after selling 165 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Snap-on were worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in Snap-on in the fourth quarter worth approximately $112,490,000. Nordea Investment Management AB raised its stake in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after buying an additional 298,727 shares in the last quarter. Wellington Management Group LLP raised its stake in Snap-on by 7,194.3% in the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after buying an additional 237,843 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Snap-on by 25.1% during the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares in the last quarter. Finally, FMR LLC increased its position in shares of Snap-on by 229.8% during the third quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after purchasing an additional 107,582 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

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

Snap-on Price Performance

Shares of SNA opened at $261.76 on Friday. The firm has a market capitalization of $13.83 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. Snap-on Incorporated has a 1-year low of $239.08 and a 1-year high of $298.49. The company’s fifty day moving average price is $283.65 and its 200-day moving average price is $278.16.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.42 earnings per share. On average, equities research analysts predict that Snap-on Incorporated will post 19.22 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

SNA has been the topic of a number of recent analyst reports. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $306.00.

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.