Jacobs & Co. CA Decreases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Jacobs & Co. CA lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,400 shares of the company’s stock after selling 362 shares during the period. Jacobs & Co. CA’s holdings in Snap-on were worth $4,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new position in Snap-on during the third quarter worth about $30,000. Massmutual Trust Co. FSB ADV raised its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Brooklyn Investment Group acquired a new position in Snap-on during the third quarter worth about $39,000. Quarry LP raised its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Snap-on during the third quarter worth about $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 1.0 %

SNA stock traded down $3.32 on Friday, hitting $333.50. 158,311 shares of the company were exchanged, compared to its average volume of 314,170. The business’s fifty day moving average is $351.56 and its two-hundred day moving average is $306.66. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.57%. Snap-on’s payout ratio is 44.06%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research reports. 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 report on Friday, October 25th. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barrington Research boosted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Buying and Selling

In other news, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,723 shares of company stock valued at $18,029,670 in the last quarter. Company insiders own 4.10% of the company’s stock.

Snap-on Company 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.