Merit Financial Group LLC Acquires Shares of 1,210 Snap-on Incorporated (NYSE:SNA)

Merit Financial Group LLC bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,210 shares of the company’s stock, valued at approximately $411,000.

Several other institutional investors have also modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in Snap-on in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV raised its position in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Snap-on in the third quarter worth about $39,000. Quarry LP boosted its position 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 acquiring an additional 115 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Snap-on during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,929 shares of company stock worth $15,645,074. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research reports. Tigress Financial raised their target price 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. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report 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 report on Friday, October 18th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $345.40.

Snap-on Trading Down 0.2 %

Shares of Snap-on stock opened at $350.84 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.23 and a beta of 1.00. The stock has a 50 day moving average of $350.60 and a 200 day moving average of $312.63.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

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.