Brooklyn Investment Group Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

Brooklyn Investment Group boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176 shares of the company’s stock after buying an additional 42 shares during the quarter. Brooklyn Investment Group’s holdings in Snap-on were worth $59,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after acquiring an additional 152,631 shares during the period. Benjamin Edwards Inc. grew its stake in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Snap-on by 45.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock valued at $74,586,000 after buying an additional 80,421 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $348.17 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a 50-day moving average of $351.33 and a two-hundred day moving average of $310.75. The stock has a market cap of $18.28 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.09 and a beta of 1.00. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

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

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.46%. 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 payout ratio is presently 44.06%.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock valued at $15,645,074 in the last ninety days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SNA. Tigress Financial increased their target price on shares of 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 raised their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.