Longboard Asset Management LP Takes $209,000 Position in Snap-on Incorporated (NYSE:SNA)

Longboard Asset Management LP acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 615 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also modified their holdings of SNA. Truist Financial Corp lifted its holdings in shares of Snap-on by 3.8% during the second quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock worth $5,080,000 after purchasing an additional 703 shares during the period. Czech National Bank lifted its holdings in shares of Snap-on by 6.8% during the third quarter. Czech National Bank now owns 10,732 shares of the company’s stock worth $3,109,000 after purchasing an additional 685 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Snap-on by 22.9% during the third quarter. Handelsbanken Fonder AB now owns 41,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 7,652 shares during the period. City Center Advisors LLC lifted its holdings in shares of Snap-on by 27.9% during the third quarter. City Center Advisors LLC now owns 931 shares of the company’s stock worth $270,000 after purchasing an additional 203 shares during the period. Finally, Bridge Creek Capital Management LLC acquired a new stake in shares of Snap-on during the third quarter worth $203,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction on Wednesday, December 18th. The stock was 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 owns 100,668 shares of the company’s stock, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on 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 transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock valued at $11,400,978 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their price target on 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 boosted their target price on shares of 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 boosted their target price 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 restated an “outperform” rating and set a $360.00 target price on shares of Snap-on in a research report on Monday. Finally, Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has an average rating of “Hold” and an average target price of $347.40.

Snap-on Trading Up 1.2 %

NYSE:SNA opened at $356.23 on Wednesday. The company has a market capitalization of $18.71 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a fifty day simple moving average of $349.28 and a 200-day simple moving average of $318.11.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is 44.06%.

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.