Golden State Equity Partners Grows Position in Snap-on Incorporated (NYSE:SNA)

Golden State Equity Partners raised its position in Snap-on Incorporated (NYSE:SNA) by 17.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,735 shares of the company’s stock after buying an additional 259 shares during the quarter. Golden State Equity Partners’ holdings in Snap-on were worth $589,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNA. Creative Planning raised its holdings in shares of Snap-on by 16.8% in the 2nd quarter. Creative Planning now owns 9,463 shares of the company’s stock worth $2,473,000 after purchasing an additional 1,361 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Snap-on by 18.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,612 shares of the company’s stock worth $944,000 after purchasing an additional 556 shares during the period. Quarry LP raised its holdings in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the period. Truist Financial Corp raised its holdings in shares of Snap-on by 3.8% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $5,080,000 after buying an additional 703 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Snap-on by 53.0% during the 3rd 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 period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SNA shares. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America raised 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred 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 transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, 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 sold a total of 32,192 shares of company stock worth $11,400,978 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE SNA opened at $355.10 on Monday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The business has a 50 day moving average price of $349.97 and a two-hundred day moving average price of $316.93. 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 firm has a market cap of $18.65 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend 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%.

Snap-on 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.