Hartford Investment Management Co. Sells 63 Shares of Snap-on Incorporated (NYSE:SNA)

Hartford Investment Management Co. decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,264 shares of the company’s stock after selling 63 shares during the period. Hartford Investment Management Co.’s holdings in Snap-on were worth $1,108,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Snap-on by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after purchasing an additional 56,266 shares in the last quarter. Geode Capital Management LLC increased its position in Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Nordea Investment Management AB raised its stake in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on 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 owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.2 %

SNA opened at $339.12 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99. The stock’s 50 day moving average price is $345.36 and its 200-day moving average price is $321.13.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 last year, the business earned $4.75 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Analyst Ratings Changes

SNA has been the topic of a number of research reports. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $345.40.

About Snap-on

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.