Northwest & Ethical Investments L.P. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Northwest & Ethical Investments L.P. increased its holdings in Snap-on Incorporated (NYSE:SNA) by 107.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,689 shares of the company’s stock after acquiring an additional 2,424 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Snap-on were worth $1,592,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% during the fourth 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. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on during the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on during the fourth quarter worth $28,000. Brooklyn Investment Group purchased a new position in shares of Snap-on during the third quarter worth $39,000. Finally, TCTC Holdings LLC boosted its position in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Down 0.7 %

NYSE:SNA opened at $327.59 on Friday. The firm has a market cap of $17.17 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The stock has a fifty day moving average price of $340.99 and a 200 day moving average price of $331.05. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 period last year, the firm earned $4.75 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $346.40.

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.