Northwest & Ethical Investments L.P. Purchases 2,424 Shares of Snap-on Incorporated (NYSE:SNA)

Northwest & Ethical Investments L.P. lifted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 107.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,689 shares of the company's stock after purchasing an additional 2,424 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Snap-on were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its position in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in Snap-on in the third quarter worth approximately $39,000. Finally, TCTC Holdings LLC grew its position in Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $346.40.

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Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction on Thursday, February 20th. The shares were 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 approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

Snap-on Stock Performance

Shares of SNA stock traded up $1.47 during mid-day trading on Wednesday, reaching $337.39. 238,249 shares of the company's stock traded hands, compared to its average volume of 324,964. 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 has a market capitalization of $17.69 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The firm has a 50 day moving average price of $340.87 and a two-hundred day moving average price of $332.70.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 last year, the firm earned $4.75 earnings per share. On average, research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is currently 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.