Twin Capital Management Inc. Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Twin Capital Management Inc. raised its stake in Snap-on Incorporated (NYSE:SNA) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,696 shares of the company’s stock after buying an additional 129 shares during the period. Twin Capital Management Inc.’s holdings in Snap-on were worth $4,989,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC lifted its position in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock worth $12,116,859. Corporate insiders own 3.90% of the company’s stock.

Snap-on Trading Down 3.8 %

NYSE:SNA opened at $314.98 on Monday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $338.24 and a 200-day moving average price of $335.75. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business posted $4.75 EPS. Equities analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.72%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SNA shares. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Finally, Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.33.

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.