Howard Capital Management Inc. Buys New Shares in Snap-on Incorporated (NYSE:SNA)

Howard Capital Management Inc. bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 967 shares of the company’s stock, valued at approximately $328,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SNA. Benjamin Edwards Inc. lifted its position in Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after acquiring an additional 129,960 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of Snap-on by 706.3% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company’s stock worth $38,474,000 after purchasing an additional 99,276 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after acquiring an additional 80,421 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Up 0.1 %

SNA opened at $336.11 on Tuesday. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.21 and a beta of 0.99. The stock’s 50 day moving average price is $343.47 and its 200-day moving average price is $324.38. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the business earned $4.75 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on’s payout ratio is 43.90%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $345.40.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction that occurred 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 owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value 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 $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,503 shares of company stock worth $15,906,074. Company insiders own 4.10% of the company’s stock.

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.