Twelve Points Wealth Management LLC Has $1.07 Million Position in Snap-on Incorporated (NYSE:SNA)

Twelve Points Wealth Management LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,144 shares of the company’s stock after buying an additional 85 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Snap-on were worth $1,067,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SNA. Millennium Management LLC lifted its holdings in shares of Snap-on by 1,786.4% during the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after buying an additional 152,631 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the period. Nordea Investment Management AB grew its position in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of 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 purchasing an additional 80,421 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $352.59 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The stock has a market capitalization of $18.51 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. The stock has a fifty day moving average of $350.33 and a 200-day moving average of $315.23.

Snap-on Increases Dividend

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

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated 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 sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’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 transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock worth $11,400,978. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of several recent research reports. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Tigress Financial raised their price target on 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 boosted their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

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.