Mountain Pacific Investment Advisers LLC Trims Stake in Snap-on Incorporated (NYSE:SNA)

Mountain Pacific Investment Advisers LLC lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,176 shares of the company’s stock after selling 100 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Snap-on were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Amalgamated Bank grew its stake in shares of Snap-on by 25.2% during the 2nd quarter. Amalgamated Bank now owns 13,838 shares of the company’s stock valued at $3,617,000 after acquiring an additional 2,788 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Snap-on by 13.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,041 shares of the company’s stock worth $1,056,000 after purchasing an additional 464 shares in the last quarter. Blair William & Co. IL raised its position in shares of Snap-on by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 7,885 shares of the company’s stock valued at $2,061,000 after purchasing an additional 48 shares during the period. Seven Eight Capital LP purchased a new position in shares of Snap-on during the 2nd quarter valued at $445,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Snap-on by 97.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,089 shares of the company’s stock worth $2,637,000 after buying an additional 4,989 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Snap-on Trading Up 0.7 %

Shares of SNA stock opened at $348.17 on Tuesday. The company has a market cap of $18.28 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock’s 50 day simple moving average is $351.05 and its two-hundred day simple moving average is $311.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.46%. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’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 completion of the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock worth $15,645,074 over the last quarter. Insiders own 4.10% of the company’s stock.

Snap-on 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.