CapWealth Advisors LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

CapWealth Advisors LLC raised its holdings in Snap-on Incorporated (NYSE:SNA) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,077 shares of the company’s stock after acquiring an additional 707 shares during the period. Snap-on makes up 1.6% of CapWealth Advisors LLC’s investment portfolio, making the stock its 28th largest position. CapWealth Advisors LLC’s holdings in Snap-on were worth $14,624,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. UMB Bank n.a. grew its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter valued at about $28,000. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter worth about $30,000. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at approximately $39,000. Finally, nVerses Capital LLC purchased a new position in Snap-on during the third quarter valued at approximately $58,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Down 0.2 %

Shares of SNA opened at $339.12 on Friday. The firm has a market cap of $17.81 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock has a 50 day simple moving average of $345.36 and a two-hundred day simple moving average of $321.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the firm posted $4.75 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s dividend payout ratio is currently 43.90%.

Analyst Ratings Changes

Several research analysts have commented on SNA shares. Bank of America raised 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. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $345.40.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction on Monday, December 9th. The stock was 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 in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,643 shares of company stock worth $13,580,191 in the last three months. 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.