Stratos Wealth Partners LTD. Grows Stake in Snap-on Incorporated (NYSE:SNA)

Stratos Wealth Partners LTD. lifted its stake in Snap-on Incorporated (NYSE:SNA) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,147 shares of the company’s stock after purchasing an additional 694 shares during the quarter. Stratos Wealth Partners LTD. owned 0.06% of Snap-on worth $9,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SNA. Asset Management One Co. Ltd. raised its holdings in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after acquiring an additional 67 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Snap-on during the third quarter valued at $19,291,000. Avanza Fonder AB purchased a new stake in shares of Snap-on during the fourth quarter valued at $1,936,000. Finally, Integrated Wealth Concepts LLC increased its holdings in Snap-on by 220.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after buying an additional 1,869 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target 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. Roth Mkm lifted their target price on shares of 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 increased their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and issued a $360.00 target price on shares of Snap-on in a research report on Monday. 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. According to MarketBeat.com, Snap-on has a consensus rating of “Hold” and a consensus target price of $347.40.

Snap-on Trading Up 0.5 %

Shares of NYSE SNA opened at $357.61 on Thursday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The business’s 50 day moving average is $349.05 and its two-hundred day moving average is $318.38. The stock has a market capitalization of $18.78 billion, a P/E ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The company 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. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Insider Buying and Selling

In related news, 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction 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 in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,192 shares of company stock valued at $11,400,978. Company 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.