Cottage Street Advisors LLC Has $1.61 Million Stake in Snap-on Incorporated (NYSE:SNA)

Cottage Street Advisors LLC reduced its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,744 shares of the company’s stock after selling 212 shares during the quarter. Cottage Street Advisors LLC’s holdings in Snap-on were worth $1,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Snap-on in the 4th quarter valued at $148,839,000. Proficio Capital Partners LLC bought a new position in Snap-on in the fourth quarter valued at about $57,738,000. Benjamin Edwards Inc. raised its holdings in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the last quarter. Nordea Investment Management AB lifted its position in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. Finally, Amundi boosted its stake in shares of Snap-on by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after purchasing an additional 116,319 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the 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 of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s 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 sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SNA. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Snap-on Stock Down 0.4 %

Snap-on stock opened at $335.99 on Wednesday. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.21 and a beta of 0.99. The company’s 50 day simple moving average is $340.87 and its 200 day simple moving average is $332.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $4.75 EPS. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s payout ratio is 43.90%.

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.