Northern Oak Wealth Management Inc. Trims Position in Snap-on Incorporated (SNA)

Northern Oak Wealth Management Inc. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 50.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,225 shares of the company’s stock after selling 1,225 shares during the period. Northern Oak Wealth Management Inc.’s holdings in Snap-on were worth $178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. BlackRock Inc. increased its position in Snap-on by 17.9% in the fourth quarter. BlackRock Inc. now owns 4,525,663 shares of the company’s stock worth $657,532,000 after purchasing an additional 687,661 shares during the last quarter. Morgan Stanley boosted its stake in Snap-on by 348.6% during the third quarter. Morgan Stanley now owns 623,240 shares of the company’s stock worth $114,427,000 after buying an additional 484,317 shares during the period. Investec Asset Management LTD boosted its stake in Snap-on by 55.2% during the fourth quarter. Investec Asset Management LTD now owns 1,114,605 shares of the company’s stock worth $161,941,000 after buying an additional 396,566 shares during the period. Federated Investors Inc. PA boosted its stake in Snap-on by 11,813.7% during the third quarter. Federated Investors Inc. PA now owns 333,225 shares of the company’s stock worth $61,180,000 after buying an additional 330,428 shares during the period. Finally, Northern Trust Corp boosted its stake in Snap-on by 14.1% during the fourth quarter. Northern Trust Corp now owns 1,126,132 shares of the company’s stock worth $163,616,000 after buying an additional 139,258 shares during the period.

Several research analysts have commented on SNA shares. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet lowered shares of Snap-on from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th. Finally, Bank of America initiated coverage on shares of Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $190.33.

Shares of SNA opened at $158.95 on Tuesday. The firm has a market cap of $8.65 billion, a PE ratio of 13.46, a P/E/G ratio of 1.31 and a beta of 1.27. Snap-on Incorporated has a 12-month low of $135.29 and a 12-month high of $189.46. The company has a quick ratio of 1.62, a current ratio of 2.33 and a debt-to-equity ratio of 0.30.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.03. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company had revenue of $952.50 million during the quarter, compared to analyst estimates of $968.74 million. During the same period in the prior year, the firm earned $2.69 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Snap-on Incorporated will post 12.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 25th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 22nd. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.

In other Snap-on news, VP Iain Boyd sold 26,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $158.79, for a total value of $4,207,935.00. Following the completion of the transaction, the vice president now directly owns 19,038 shares in the company, valued at $3,023,044.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas L. Kassouf sold 18,657 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now owns 3,920 shares of the company’s stock, valued at $632,060.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,977 shares of company stock valued at $10,435,589. 3.90% of the stock is owned by insiders.

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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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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