HB Wealth Management LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

HB Wealth Management LLC lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 859 shares of the company’s stock after buying an additional 121 shares during the period. HB Wealth Management LLC’s holdings in Snap-on were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new position in Snap-on in the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV lifted its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in Snap-on during the third quarter worth approximately $39,000. Quarry LP boosted its stake in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Snap-on in the 3rd quarter worth $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’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 transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock valued at $15,645,074 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $350.84 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a fifty day simple moving average of $350.60 and a two-hundred day simple moving average of $312.63. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 2.23 and a beta of 1.00.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.44%. Snap-on’s dividend payout ratio is 44.06%.

Analyst Ratings Changes

SNA has been the subject of several analyst reports. Tigress Financial increased their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird increased their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $345.40.

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.