Donoghue Forlines LLC Takes $1.49 Million Position in Snap-on Incorporated (NYSE:SNA)

Donoghue Forlines LLC purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,398 shares of the company’s stock, valued at approximately $1,493,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. Aurora Investment Counsel lifted its position in shares of Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after purchasing an additional 30 shares in the last quarter. UMB Bank n.a. lifted its holdings in 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 buying an additional 31 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Snap-on by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after buying an additional 32 shares during the period. Finally, Tradition Wealth Management LLC raised its position in shares of Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Roth Mkm increased their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. 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 report on Friday, October 18th. Tigress Financial increased their price target 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. Finally, Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling

In other news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction 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 transaction, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,929 shares of company stock valued at $15,645,074. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $351.20 on Thursday. The firm has a market cap of $18.44 billion, a P/E ratio of 18.05, a PEG ratio of 2.23 and a beta of 1.00. 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 quick ratio of 3.14 and a current ratio of 4.18. The firm’s 50 day moving average price is $350.74 and its two-hundred day moving average price is $312.37.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.44%. Snap-on’s dividend payout ratio is presently 44.06%.

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.