Ibex Wealth Advisors Invests $300,000 in Snap-on Incorporated (NYSE:SNA)

Ibex Wealth Advisors bought a new position in Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 885 shares of the company's stock, valued at approximately $300,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB grew its holdings in shares of Snap-on by 12.5% in the fourth quarter. Swedbank AB now owns 57,518 shares of the company's stock worth $19,526,000 after acquiring an additional 6,375 shares during the period. Twelve Points Wealth Management LLC grew its stake in shares of Snap-on by 2.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 3,144 shares of the company's stock valued at $1,067,000 after purchasing an additional 85 shares during the period. Perigon Wealth Management LLC increased its position in shares of Snap-on by 9.5% during the 4th quarter. Perigon Wealth Management LLC now owns 868 shares of the company's stock valued at $300,000 after purchasing an additional 75 shares during the last quarter. KBC Group NV lifted its stake in shares of Snap-on by 177.4% in the 4th quarter. KBC Group NV now owns 42,820 shares of the company's stock worth $14,536,000 after purchasing an additional 27,383 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Snap-on by 6.3% in the fourth quarter. Blue Trust Inc. now owns 3,821 shares of the company's stock worth $1,297,000 after buying an additional 225 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Price Performance

SNA stock traded up $6.54 during trading on Thursday, reaching $359.58. The company's stock had a trading volume of 74,283 shares, compared to its average volume of 362,283. The company's fifty day moving average is $350.25 and its 200-day moving average is $315.50. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a market capitalization of $18.88 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on's previous quarterly dividend of $1.86. Snap-on's dividend payout ratio (DPR) is 44.06%.

Analyst Ratings Changes

Several research firms have weighed in on SNA. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Finally, Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $345.40.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock valued at $11,400,978. Corporate insiders own 4.10% of the company's stock.

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.