Perigon Wealth Management LLC Boosts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Perigon Wealth Management LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 868 shares of the company’s stock after buying an additional 75 shares during the period. Perigon Wealth Management LLC’s holdings in Snap-on were worth $300,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Snap-on during the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV raised its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Snap-on in the 3rd quarter worth approximately $39,000. Finally, Quarry LP grew its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Down 1.0 %

Shares of Snap-on stock opened at $355.10 on Monday. The company has a fifty day moving average price of $349.97 and a 200 day moving average price of $316.93. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is 44.06%.

Analyst Upgrades and Downgrades

Several research firms have commented on SNA. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’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 completion of the sale, the chief financial officer now owns 100,668 shares in the company, 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. In the last three months, insiders sold 32,192 shares of company stock valued at $11,400,978. 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.