Snap-on Incorporated (NYSE:SNA) Stock Position Lifted by JGP Wealth Management LLC

JGP Wealth Management LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,247 shares of the company’s stock after purchasing an additional 41 shares during the quarter. JGP Wealth Management LLC’s holdings in Snap-on were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in shares of Snap-on in the third quarter worth $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap-on during the 3rd quarter worth about $39,000. Quarry LP lifted its holdings in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Snap-on in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were 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 owns 55,401 shares in the company, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,929 shares of company stock valued at $15,645,074 in the last three months. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $345.83 on Friday. The firm has a market capitalization of $18.16 billion, a PE ratio of 17.80, a PEG ratio of 2.09 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 company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $351.55 and its 200 day simple moving average is $309.37.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SNA shares. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research increased their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $345.40.

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.