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

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,145 shares of the company’s stock, valued at approximately $1,068,000.

A number of other institutional investors also recently modified their holdings of SNA. Raymond James Financial Inc. bought a new stake in shares of Snap-on in the fourth quarter valued at about $148,839,000. Proficio Capital Partners LLC bought a new stake in shares of Snap-on in the fourth quarter valued at about $57,738,000. Benjamin Edwards Inc. raised its stake in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares in the last quarter. Nordea Investment Management AB raised its stake in Snap-on by 12.8% in 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, Amundi raised its stake in Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after purchasing an additional 116,319 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 0.8 %

Shares of NYSE SNA opened at $330.03 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock has a 50-day moving average price of $341.08 and a two-hundred day moving average price of $330.75.

Snap-on (NYSE:SNA) last issued its earnings results 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business earned $4.75 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNA has been the subject of a number of analyst reports. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.