Snap-on Incorporated (NYSE:SNA) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 966 shares of the company’s stock after selling 45 shares during the quarter. Fulton Bank N.A.’s holdings in Snap-on were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV raised its position in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Snap-on during the third quarter valued at approximately $39,000. Quarry LP boosted its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Snap-on in the 3rd quarter worth approximately $58,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNA has been the topic of several analyst reports. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America increased their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

SNA opened at $332.27 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a 50 day moving average of $351.56 and a two-hundred day moving average of $306.66. The company has a market cap of $17.45 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.35 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. On average, analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.58%. Snap-on’s payout ratio is 44.06%.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % 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, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,723 shares of company stock worth $18,029,670 in the last 90 days. 4.10% of the stock is owned by company insiders.

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.