Venturi Wealth Management LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

Venturi Wealth Management LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 343.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,304 shares of the company's stock after purchasing an additional 1,010 shares during the quarter. Venturi Wealth Management LLC's holdings in Snap-on were worth $443,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CIBC Asset Management Inc grew its position in Snap-on by 1.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,429 shares of the company's stock worth $3,201,000 after buying an additional 129 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Snap-on by 0.9% in the 4th quarter. Sanctuary Advisors LLC now owns 46,184 shares of the company's stock worth $16,562,000 after acquiring an additional 401 shares during the period. Principal Financial Group Inc. increased its stake in Snap-on by 6.8% in the 4th quarter. Principal Financial Group Inc. now owns 299,674 shares of the company's stock valued at $101,737,000 after purchasing an additional 19,081 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in Snap-on by 5.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,372 shares of the company's stock worth $805,000 after purchasing an additional 130 shares during the last quarter. Finally, MOKAN Wealth Management Inc. purchased a new stake in Snap-on during the fourth quarter worth $1,656,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 1.1 %

Shares of Snap-on stock traded down $3.57 during mid-day trading on Friday, hitting $334.93. 129,748 shares of the stock were exchanged, compared to its average volume of 382,701. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a 50-day simple moving average of $344.18 and a 200 day simple moving average of $322.76. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 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 period in the previous year, the company posted $4.75 earnings per share. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.56%. Snap-on's payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SNA. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One investment 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. According to data from MarketBeat.com, Snap-on has an average rating of "Hold" and a consensus target price of $345.40.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is owned by company insiders.

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.