Raymond James Financial Inc. Acquires Shares of 438,435 Snap-on Incorporated (NYSE:SNA)

Raymond James Financial Inc. bought a new position in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 438,435 shares of the company’s stock, valued at approximately $148,839,000. Raymond James Financial Inc. owned about 0.83% of Snap-on as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in Snap-on by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock worth $6,693,000 after acquiring an additional 455 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Snap-on by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock worth $2,786,000 after purchasing an additional 953 shares during the last quarter. National Pension Service lifted its holdings in Snap-on by 4.3% during the 3rd quarter. National Pension Service now owns 113,516 shares of the company’s stock worth $32,887,000 after purchasing an additional 4,710 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares during the period. Finally, Radnor Capital Management LLC acquired a new position in Snap-on in the 3rd quarter valued at $478,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of a number of research reports. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Insiders Place Their Bets

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 value of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,003 shares of company stock worth $14,636,064 over the last three months. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

SNA opened at $342.36 on Friday. The firm has a market cap of $17.94 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s fifty day moving average is $342.23 and its 200-day moving average is $327.17. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

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

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.50%. Snap-on’s dividend payout ratio is currently 43.90%.

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.