Robbins Farley Has $2.07 Million Stake in Snap-on Incorporated (NYSE:SNA)

Robbins Farley lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,095 shares of the company’s stock after selling 191 shares during the period. Robbins Farley’s holdings in Snap-on were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SNA. UMB Bank n.a. increased its position in 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 period. Reston Wealth Management LLC acquired a new position in shares of Snap-on in the third quarter valued at about $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group acquired a new stake in Snap-on in the 3rd quarter worth about $39,000. Finally, nVerses Capital LLC bought a new stake in Snap-on in the 3rd quarter valued at about $58,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % 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 over the last ninety days. 4.10% of the stock is owned by company insiders.

Snap-on Price Performance

Snap-on stock opened at $351.98 on Tuesday. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.23 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock’s 50 day moving average price is $349.59 and its two-hundred day moving average price is $317.51.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.43%. Snap-on’s payout ratio is currently 44.06%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial upped their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research reissued an “outperform” rating and issued a $360.00 target price on shares of Snap-on in a report on Monday. Finally, Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $347.40.

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.