Townsend & Associates Inc Acquires 457 Shares of Snap-on Incorporated (NYSE:SNA)

Townsend & Associates Inc raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,170 shares of the company’s stock after purchasing an additional 457 shares during the period. Snap-on accounts for about 2.1% of Townsend & Associates Inc’s holdings, making the stock its 16th largest holding. Townsend & Associates Inc owned about 0.11% of Snap-on worth $20,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on during the 4th quarter worth approximately $28,000. Reston Wealth Management LLC purchased a new position in shares of Snap-on during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in shares of Snap-on during the 3rd quarter worth approximately $39,000. Finally, Asset Planning Inc purchased a new position in shares of Snap-on during the 4th quarter worth approximately $68,000. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Buying and Selling

In related news, 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 value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $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 45,503 shares of company stock worth $15,906,074 in the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.8 %

SNA stock opened at $335.87 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The business’s 50 day moving average price is $343.79 and its two-hundred day moving average price is $323.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the company posted $4.75 EPS. As a group, analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. Snap-on’s payout ratio is currently 43.90%.

Snap-on 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.