Stevens Capital Management LP Purchases Shares of 634 Snap-on Incorporated (NYSE:SNA)

Stevens Capital Management LP acquired a new position in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 634 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. State Street Corp boosted its holdings in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after acquiring an additional 77,486 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after acquiring an additional 69,590 shares during the period. Nordea Investment Management AB grew its position in shares of Snap-on by 12.8% during the fourth 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, Raymond James Financial Inc. bought a new stake in Snap-on during the 4th quarter valued at approximately $148,839,000. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the 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 sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SNA shares. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. 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 stock. According to MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and an average target price of $346.40.

Snap-on Stock Up 2.9 %

Shares of SNA opened at $337.54 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The business’s 50 day simple moving average is $340.95 and its 200-day simple moving average is $332.24.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company earned $4.75 earnings per share. As a group, equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-on’s payout ratio is currently 43.90%.

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.