Catalyst Funds Management Pty Ltd Acquires Shares of 1,000 Snap-on Incorporated (NYSE:SNA)

Catalyst Funds Management Pty Ltd bought a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,000 shares of the company's stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Snap-on in the fourth quarter valued at $148,839,000. Proficio Capital Partners LLC acquired a new stake in shares of Snap-on in the fourth quarter valued at about $57,738,000. Benjamin Edwards Inc. raised its position in shares of Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after acquiring an additional 152,428 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after acquiring an additional 127,859 shares during the period. Finally, Amundi boosted its holdings in Snap-on by 137.0% in the fourth quarter. Amundi now owns 201,207 shares of the company's stock valued at $68,039,000 after acquiring an additional 116,319 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNA has been the subject of several analyst reports. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $346.40.

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Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 0.8 %

Shares of Snap-on stock traded down $2.75 on Thursday, reaching $330.03. 427,407 shares of the company's stock were exchanged, compared to its average volume of 387,006. The company has a market capitalization of $17.30 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm's 50-day moving average is $341.20 and its two-hundred day moving average is $330.75.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.75 EPS. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.59%. Snap-on's dividend payout ratio is presently 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.