Snap-on Incorporated (NYSE:SNA) Stock Position Raised by Assetmark Inc.

Assetmark Inc. lifted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,472 shares of the company's stock after purchasing an additional 5,187 shares during the quarter. Assetmark Inc. owned 0.26% of Snap-on worth $46,330,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Aurora Investment Counsel grew its stake in shares of Snap-on by 0.9% in the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock worth $1,028,000 after purchasing an additional 30 shares in the last quarter. Greenleaf Trust grew its stake in shares of Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock worth $344,000 after purchasing an additional 30 shares in the last quarter. UMB Bank n.a. grew its stake 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 worth $25,000 after purchasing an additional 31 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after purchasing an additional 31 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $346.40.

Snap-on Trading Up 2.4 %

Shares of NYSE SNA traded up $8.02 during mid-day trading on Friday, hitting $342.36. 361,966 shares of the company traded hands, compared to its average volume of 382,599. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.21 and a beta of 0.99. 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 business has a 50 day moving average of $342.21 and a two-hundred day moving average of $327.98.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 prior year, the business earned $4.75 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on's dividend payout ratio is 43.90%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 100,668 shares of the company's stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company's stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,003 shares of company stock valued at $14,636,064 over the last three months. Insiders own 4.10% of the company's stock.

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.