Johnson Investment Counsel Inc. Trims Stake in Snap-on Incorporated (NYSE:SNA)

Johnson Investment Counsel Inc. lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,222 shares of the company’s stock after selling 621 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Snap-on were worth $754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. UMB Bank n.a. raised its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the 3rd quarter valued at $39,000. Finally, Private Trust Co. NA raised its holdings in shares of Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $346.40.

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE SNA opened at $324.87 on Thursday. The stock’s 50-day moving average is $342.13 and its two-hundred day moving average is $329.13. 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 1-year low of $252.98 and a 1-year high of $373.90. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business posted $4.75 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.63%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

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.