Mackenzie Financial Corp Has $1.22 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Mackenzie Financial Corp trimmed its position in Snap-on Incorporated (NYSE:SNA) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,216 shares of the company’s stock after selling 55 shares during the quarter. Mackenzie Financial Corp’s holdings in Snap-on were worth $1,218,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Royal London Asset Management Ltd. raised its stake in shares of Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock valued at $5,751,000 after purchasing an additional 2,542 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Snap-on in the fourth quarter valued at $1,203,000. Vision Capital Management Inc. acquired a new position in shares of Snap-on in the fourth quarter valued at $2,377,000. Cerity Partners LLC raised its stake in shares of Snap-on by 275.7% in the fourth quarter. Cerity Partners LLC now owns 7,938 shares of the company’s stock valued at $2,292,000 after purchasing an additional 5,825 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Snap-on by 3.9% in the fourth quarter. Raymond James & Associates now owns 355,160 shares of the company’s stock valued at $102,584,000 after purchasing an additional 13,225 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Price Performance

Shares of SNA stock opened at $273.59 on Thursday. The stock’s fifty day moving average is $283.98 and its 200-day moving average is $278.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a market capitalization of $14.42 billion, a PE ratio of 14.35, a PEG ratio of 1.87 and a beta of 0.99. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.60 earnings per share. Equities research analysts expect that Snap-on Incorporated will post 19.04 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s payout ratio is presently 39.03%.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock worth $13,399,449 over the last 90 days. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and an average target price of $316.75.

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.