New Age Alpha Advisors LLC acquired a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,339 shares of the company's stock, valued at approximately $2,831,000.
Several other hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. boosted 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 valued at $25,000 after buying an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on during the 4th quarter worth $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on in the 4th quarter valued at about $40,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Snap-on in the third quarter valued at about $39,000. Institutional investors and hedge funds own 84.88% of the company's stock.
Snap-on Price Performance
Snap-on stock traded up $2.66 during mid-day trading on Wednesday, hitting $342.24. 194,492 shares of the company were exchanged, compared to its average volume of 341,817. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The business's 50 day simple moving average is $339.60 and its two-hundred day simple moving average is $334.75. The company has a market capitalization of $17.94 billion, a P/E ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99.
Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the business posted $4.75 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.
Snap-on Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were 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 was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 43.90%.
Insider Activity
In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following 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 a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. Company insiders own 3.90% of the company's stock.
Analyst Upgrades and Downgrades
SNA has been the topic of several recent analyst reports. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Finally, 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $355.33.
Check Out Our Latest Stock Analysis on Snap-on
About Snap-on
(
Free Report)
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.
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