Baldwin Wealth Partners LLC MA Lowers Stock Position in Snap-on Incorporated (NYSE:SNA)

Baldwin Wealth Partners LLC MA cut its holdings in Snap-on Incorporated (NYSE:SNA) by 60.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614 shares of the company’s stock after selling 920 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Snap-on were worth $208,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC boosted its holdings in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after acquiring an additional 152,631 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Snap-on by 34,381.0% in the 3rd 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 grew its position in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Snap-on by 45.4% during 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 purchasing an additional 80,421 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

Shares of Snap-on stock opened at $352.89 on Tuesday. The stock has a market cap of $18.53 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.21 and a beta of 1.00. 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’s fifty day moving average is $350.37 and its 200 day moving average is $314.65. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.43%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,192 shares of company stock valued at $11,400,978 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research increased their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted 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. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $345.40.

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.