Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,145 shares of the company’s stock, valued at approximately $1,068,000.

Several other hedge funds have also recently added to or reduced their stakes in SNA. Aurora Investment Counsel lifted its stake in Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. Greenleaf Trust lifted its stake in Snap-on by 3.1% during the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after acquiring an additional 30 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. WCM Investment Management LLC raised its stake in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the period. Finally, New York Life Investment Management LLC raised its stake in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock worth $2,412,000 after purchasing an additional 31 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.8 %

Shares of Snap-on stock opened at $330.03 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The stock’s 50-day simple moving average is $341.08 and its 200 day simple moving average is $330.75. The stock has a market capitalization of $17.30 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

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

Snap-on Announces Dividend

The business also recently announced 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is presently 43.90%.

Analyst Ratings Changes

SNA has been the topic of a number of recent analyst reports. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $346.40.

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.