Signature Wealth Management Group Raises Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Signature Wealth Management Group raised its position in Snap-on Incorporated (NYSE:SNA) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,307 shares of the company’s stock after buying an additional 39 shares during the quarter. Signature Wealth Management Group’s holdings in Snap-on were worth $1,462,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC bought a new stake in shares of Snap-on in the fourth quarter valued at $512,000. Vest Financial LLC grew its position in shares of Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC grew its position 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 valued at $13,264,000 after purchasing an additional 1,605 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Snap-on in the third quarter valued at $19,291,000. Finally, Avanza Fonder AB purchased a new position in shares of Snap-on in the fourth quarter valued at $1,936,000. 84.88% of the stock is currently owned by institutional investors.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,220 shares of company stock worth $6,906,802. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Snap-on stock opened at $331.93 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The business has a 50-day simple moving average of $341.51 and a 200 day simple moving average of $329.73. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate 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 previous year, the business earned $4.75 earnings per share. On average, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial boosted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One 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 stock currently has a consensus rating of “Hold” and a consensus price target of $346.40.

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.