Twelve Points Wealth Management LLC Has $1.07 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Twelve Points Wealth Management LLC grew its stake in Snap-on Incorporated (NYSE:SNA) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,144 shares of the company’s stock after purchasing an additional 85 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Snap-on were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board increased its stake in Snap-on by 78.0% in the second quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock valued at $530,000 after purchasing an additional 889 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at $869,000. Millennium Management LLC increased its position in shares of Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after buying an additional 152,631 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Snap-on by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,710 shares of the company’s stock worth $11,425,000 after buying an additional 746 shares during the period. Finally, Scientech Research LLC bought a new position in Snap-on during the second quarter worth about $279,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of SNA opened at $352.59 on Wednesday. The company has a 50 day moving average of $350.33 and a 200-day moving average of $315.23. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $18.51 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Analyst Ratings Changes

SNA has been the topic of a number of research analyst reports. Barrington Research raised their price target on 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 raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America upped their price target 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. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $345.40.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

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.