Jacobi Capital Management LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Jacobi Capital Management LLC purchased a new position in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 614 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNA. UMB Bank n.a. lifted its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at approximately $39,000. Private Trust Co. NA lifted its holdings in shares of Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares in the last quarter. Finally, Asset Planning Inc bought a new position in shares of Snap-on in the fourth quarter valued at approximately $68,000. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $345.40.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock valued at $15,906,074 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of SNA opened at $333.45 on Tuesday. 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 market capitalization of $17.47 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.99. The stock has a 50 day moving average of $343.25 and a 200 day moving average of $326.29. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 earned $4.75 earnings per share. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend 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.