Snap-on Incorporated (NYSE:SNA) Position Increased by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,917 shares of the company's stock after purchasing an additional 7,197 shares during the period. Park Avenue Securities LLC owned approximately 0.06% of Snap-on worth $10,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock worth $216,815,000 after buying an additional 280,997 shares in the last quarter. Millennium Management LLC grew its holdings in Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company's stock worth $42,130,000 after acquiring an additional 152,631 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after purchasing an additional 152,428 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock valued at $37,760,000 after purchasing an additional 129,960 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, October 18th. 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. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of "Hold" and an average target price of $345.40.

Snap-on Stock Performance

SNA traded up $5.10 during trading on Wednesday, reaching $345.41. 382,930 shares of the company were exchanged, compared to its average volume of 359,359. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $351.70 and a 200 day moving average of $309.11. The stock has a market cap of $18.14 billion, a P/E ratio of 17.78, a PEG ratio of 2.35 and a beta of 1.00.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on's previous quarterly dividend of $1.86. Snap-on's payout ratio is 44.06%.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company's stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,679 shares of company stock worth $16,222,574. Company 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.