TCTC Holdings LLC Purchases 43 Shares of Snap-on Incorporated (NYSE:SNA)

TCTC Holdings LLC boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 41.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147 shares of the company’s stock after acquiring an additional 43 shares during the quarter. TCTC Holdings LLC’s holdings in Snap-on were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. KBC Group NV increased its holdings in shares of Snap-on by 1.8% in the third quarter. KBC Group NV now owns 15,437 shares of the company’s stock valued at $4,472,000 after purchasing an additional 271 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after purchasing an additional 32 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Snap-on by 6.5% in the third quarter. CIBC Asset Management Inc now owns 9,300 shares of the company’s stock valued at $2,694,000 after purchasing an additional 571 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Snap-on by 4.4% in the third quarter. Natixis Advisors LLC now owns 66,438 shares of the company’s stock valued at $19,248,000 after purchasing an additional 2,794 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Snap-on by 2.6% in the third quarter. Claro Advisors LLC now owns 3,354 shares of the company’s stock valued at $972,000 after purchasing an additional 85 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on SNA shares. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $346.40.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Down 0.8 %

SNA opened at $329.04 on Tuesday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a 50-day simple moving average of $341.41 and a 200 day simple moving average of $330.42. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping 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 in the previous year, the company earned $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Snap-on Profile

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.