Verdence Capital Advisors LLC Sells 282 Shares of Snap-on Incorporated (NYSE:SNA)

Verdence Capital Advisors LLC trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,244 shares of the company’s stock after selling 282 shares during the period. Verdence Capital Advisors LLC’s holdings in Snap-on were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SNA. Janney Montgomery Scott LLC lifted its stake in shares of Snap-on by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock valued at $6,693,000 after buying an additional 455 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Snap-on by 11.0% during the third quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock valued at $2,786,000 after purchasing an additional 953 shares in the last quarter. National Pension Service lifted its position in shares of Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company’s stock valued at $32,887,000 after purchasing an additional 4,710 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new position in shares of Snap-on during the third quarter valued at about $478,000. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of SNA stock opened at $334.01 on Friday. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 17.13, 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 Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm’s 50-day simple moving average is $342.48 and its two-hundred day simple moving average is $327.12.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the business earned $4.75 EPS. As a group, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share 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. This represents a $8.56 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio is 43.90%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and an average price target of $346.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,003 shares of company stock worth $14,636,064 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

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.