Snap-on Incorporated (NYSE:SNA) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in Snap-on Incorporated (NYSE:SNA) by 80.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 863 shares of the company’s stock after selling 3,615 shares during the period. Exchange Traded Concepts LLC’s holdings in Snap-on were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNA. Aurora Investment Counsel boosted its holdings in shares of Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares during the last quarter. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares during the period. Metis Global Partners LLC increased its stake in shares of Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after acquiring an additional 32 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its holdings in shares of Snap-on by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 1.0 %

NYSE SNA opened at $355.10 on Friday. 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 Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The business has a 50 day moving average price of $349.97 and a two-hundred day moving average price of $316.38. The stock has a market cap of $18.65 billion, a PE ratio of 18.28, a P/E/G ratio of 2.22 and a beta of 1.00.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. Snap-on’s dividend payout ratio is 44.06%.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,192 shares of company stock valued at $11,400,978. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

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.