Strategic Financial Concepts LLC Makes New $5.65 Million Investment in Snap-on Incorporated (NYSE:SNA)

Strategic Financial Concepts LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,635 shares of the company’s stock, valued at approximately $5,647,000.

Several other hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. grew its holdings in Snap-on by 70.5% in the fourth 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on in the 4th quarter worth approximately $28,000. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the 3rd quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in Snap-on during the 3rd quarter valued at approximately $39,000. Finally, nVerses Capital LLC purchased a new position in Snap-on during the third quarter valued at $58,000. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP June C. Lemerand sold 3,500 shares of the company’s 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 completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,643 shares of company stock worth $13,580,191. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNA shares. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Finally, Roth Mkm upped 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.40.

Snap-on Trading Down 0.2 %

Snap-on stock opened at $339.12 on Monday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The business’s fifty day moving average is $345.36 and its 200 day moving average is $321.63. The stock has a market capitalization of $17.81 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $4.75 EPS. On average, sell-side analysts predict that Snap-on Incorporated will post 20.07 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s dividend payout ratio is presently 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.