Raymond James Financial Inc. Takes $148.84 Million Position in Snap-on Incorporated (NYSE:SNA)

Raymond James Financial Inc. acquired a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 438,435 shares of the company's stock, valued at approximately $148,839,000. Raymond James Financial Inc. owned about 0.83% of Snap-on as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNA. Janney Montgomery Scott LLC raised its holdings in Snap-on by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company's stock worth $6,693,000 after purchasing an additional 455 shares during the last quarter. Van ECK Associates Corp increased its position in Snap-on by 11.0% during the third quarter. Van ECK Associates Corp now owns 9,617 shares of the company's stock worth $2,786,000 after buying an additional 953 shares in the last quarter. National Pension Service increased its position in Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company's stock worth $32,887,000 after buying an additional 4,710 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock worth $5,764,000 after buying an additional 67 shares in the last quarter. Finally, Radnor Capital Management LLC purchased a new position in Snap-on during the third quarter worth $478,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

Several research firms have weighed in on SNA. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. 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 report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $346.40.

Insider Activity at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on 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 transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,003 shares of company stock worth $14,636,064. 4.10% of the stock is owned by insiders.

Snap-on Trading Up 2.4 %

Shares of NYSE:SNA traded up $8.02 during midday trading on Friday, reaching $342.36. The company's stock had a trading volume of 361,966 shares, compared to its average volume of 382,599. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth 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. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The business has a 50 day moving average price of $342.21 and a 200 day moving average price of $327.98.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $4.75 earnings per share. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis 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 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.