Snap-on Incorporated (NYSE:SNA) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,284 shares of the company’s stock after selling 106 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Snap-on were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Snap-on in the third quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its position in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the last quarter. Brooklyn Investment Group acquired a new position in Snap-on in the third quarter valued at $39,000. Finally, Quarry LP grew its holdings in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Price Performance

Shares of NYSE SNA opened at $358.34 on Friday. The stock has a fifty day moving average price of $350.18 and a 200 day moving average price of $315.80. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The company has a market cap of $18.82 billion, a PE ratio of 18.44, a P/E/G ratio of 2.22 and a beta of 1.00.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. Snap-on’s payout ratio is presently 44.06%.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,192 shares of company stock worth $11,400,978 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNA. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $345.40.

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.